PARTICIPATING MEMBERS DEPOSIT BANKS n BANK OF TUNISIA (BT) n BANK FOR HOUSING (BH) n TUNISIAN BANKING COMPANY (STB) n NATIONAL AGRICULTURAL BANK (BNA) n ARAB INTERNATIONAL BANK OF TUNISIA (BIAT) n BANK OF THE SOUTH (BS) n ARAB TUNISIAN BANK (ATB) n FRANCO-TUNISIAN BANK (BFT) n AMEN BANK (AB) n INTERNATIONAL BANKING UNION (UIB) n BANKING UNION FOR TRADE AND INDUSTRY (UBCI) n CITIBANK n TUNISIAN SOLIDARITY BANK (BTS) n ARAB BANKING CORPORATION (ABC) DEVELOPMENT BANKS n TUNISO-KUWAITI DEVELOPMENT BANK (BTKD) n TUNISO-SAUDI INVESTMENT AND DEVELOPMENT COMPANY (STUSID) n TUNISO-QATARI INVESTMENT BANK (BTQI) n TUNISO-EMIRATES INVESTMENT BANK (BTEI) n TUNISO-LIBYAN ARAB BANK FOR DEVELOPMENT AND FOREIGN TRADE OTHER MEMBERS n NORTH AFRICA INTERNATIONAL BANK n TUNISIAN BUSINESS BANK LEASING COMPANIES n ARAB TUNISIAN LEASE n TUNISIA LEASING n INTERNATIONAL LEASING COMPANY n GENERAL LEASING n TUNISIAN LEASING UNION n AMEN LEASE n ARAB INTERNATIONAL LEASE n MODERN LEASING n HANNIBAL LEASE n EL WIFACK LEASING FACTORING COMPANIES n UNIFACTOR n TUNISIA FACTORING ASSOCIATE MEMBERS n TUNISIAN CLAIM COLLECTION COMPANY (Sté Tunisienne de Recouvrement des Créances) n RAPID COLLECTION COMPANY (Société Rapid Recouvrement) n FINANCIAL CLAIM COLLECTION COMPANY (Sté Financière de Recouvrement des Créances) n CLAIM COLLECTION GROUP (L’Internationale de Recouvrement des Créances) n ARAB INTERNATIONAL COLLECTION COMPANY (Compagnie Internationale Arabe de Recouvrement) n SOUTHERN COLLECTION (Sud Recouvrement) n EL ISTIFA COMPANY (Société El Istifa) n GENERAL CLAIM COLLECTION COMPANY (Société Générale de Recouvrement des Créances) MEMBERS OF APTBEF’S GOVERNING COUNCIL Chairman : Mr. Faouzi BELKAHIA, President Director General of the Bank of Tunisia.
Banking Section :
Vice Chairman : Mr. Aissa HIDOUSSI, (Chairman of the Banking Section), President Director General of the Bank for Housing until 8 October 2003.
Members :- Mr. Hedi ZAR, (Treasurer), Chairman of the National Agricultural Bank’s executive board. - Mr. Brahim SAADA, Chairman of the Tunisian Banking Company’s executive board. - Mr. Chakib NOUIRA, Chairman of the Arab International Bank of Tunisia’s executive board. - Mr. Abdelwaheb NACHI, President Director General of the Tuniso-Saudi Investment and Development Company. - Mr. Bechir TRABELSI, President Director General of the Bank of the South. - Mr. Abdelghaffar EZZEDDINE, Director General of the Tuniso-Qatari Investment Bank. - Mr. Abous Hafs Amor NAJAI, President Director General of the Bank for Housing, since 8 October 2003.
Financial Institutions Section :
Vice Chairman : - Mr. Salah JEBALI, (Chairman of the Financial Institutions Section), President Director General of Arab Tunisian Lease.
Members :- Mr. Ahmed ABDELKAFI, President Director General of Tunisia Leasing, until 21 May 2003 (Chairman of the Board since 22 May 2003). - Mr. Fethi MESTIRI, Director General of Tunisia Leasing since 22 May 2003. - Mr. Salah SOUKI, Deputy Director General of the International Leasing Company. - Mr. Raouf BOHLI, President Director General of the Factoring Union, until 14 October 2003. - Mr. Kamel BEN NJIMA, President Director General of the Factoring Union, since 15 October 2003.
General Delegate : Mr. Mohamed Abderraouf BEN GHEZALA. TABLE OF CONTENTS
I - TUNISIA’S ECONOMIC SITUATION 7 The international environment 9 9 Trends in the Tunisian Economy 12
II - MONETARY, FINANCIAL AND FOREIGN 17 EXCHANGE CONDITIONS IN 2003 15
III - BANKING LIQUIDITY AND 25 THE STATUS OF MONETARY BALANCE 23
IV - CONDITIONS WITHIN THE BANKING SYSTEM 31 AND AT SPECIALIZED FINANCIAL INSTITUTIONS 30 Conditions at banks 32 31 Conditions at deposit banks 33 Conditions at development banks 41 Conditions at financial institutions 45 Conditions at leasing companies 46 47 Conditions at factoring companies 49 51 V- APTBEF’S REPORT ON 2003 ACTIVITIES 52 55 VI- APPENDIX 69 DEPOSIT BANK BALANCE SHEETS AND INCOME STATEMENTS 71 DEVELOPMENT BANK BALANCE SHEETS AND INCOME STATEMENTS 101 1010 FINANCIAL INSTITUTIONS BALANCE SHEETS AND INCOME STATEMENTS 112 Leasing Company Balance sheets and income statements 113 Factoring Company Balance sheets and income statements 135 OTHER MEMBERS BALANCE SHEETS AND INCOME STATEMENTS 141 DEPOSIT BANK NETWORKS 147 147 VII- THE BANKING POPULATION IN 2003 171 I
TUNISIA’S ECONOMIC SITUATION Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
TUNISIA’S ECONOMIC SITUATION
THE INTERNATIONAL ENVIRONMENT
After rather disappointing progress throughout 2002 and into April 2003, world economic recovery had firmly taken hold by the middle of 2003. In effect, despite ongoing fallout from geopolitical tension, terrorist threats, and the SARS epidemic the world economy grew by 3.9% in constant terms, compared to 3% in 2002. This improved rate was due in particular to vigorous growth in the United States, Asian and Gulf countries, further consolidated by the beginning of recovery in Japan. On the other hand, growth was down in the euro zone, at just 0.4% in real terms. If the euro zone is excluded, gross domestic product would be 5%. Sustained economic recovery worldwide was favored in particular by : - Expansionary monetary and budgetary policies, with key rates reaching record lows and budget deficit rates record highs, and - Tax breaks that boosted household expenditure. Unemployment stopped rising, even dropping in a number of countries such as the United States(1) and Japan, thanks to high economic growth. 2003 was also marked by ongoing appreciation of the euro against most of the strongest currencies, especially the US dollar. Despite policies supporting recovery, inflation remained tolerable in the United States, which enjoyed overall vigorous economic recovery.
TRENDS IN THE MAIN ECONOMIC AND FINANCIAL INDICATORS WORLDWIDE DESCRIPTION INFLATION UNEMPLOYMENT GDP GROWTH (variation BUDGET BALANCE AS A % OF THE INTEREST RATES (in volume & in %) in consumer (IN % of GDP) WORKING IN %(3) prices %)(2) POPULATION COUNTRIES 2002 2003 2002 2003 2002 2003 2002 2003 2002 2003 Total for developed countries 1.7 2.1 1.5 1.8 -3.1 -4.0 6.4 6.6 NA NA of which : United States 2.2 3.1 1.6 2.3 -3.3 -4.9 5.8 6.0 1.24 0.98 Japan - 0.3 2.7 -0.9 -0.3 -7.9 -8.2 5.4 5.3 0.0 0.0 European Union 1.1 0.8 2.1 2.0 -2.0 -2.6 7.7 8.2 NA NA of which: Euro zone 0.9 0.4 2.3 2.1 -2.3 -2.7 8.4 8.8 2.95 2.09 France 1.2 0.2 1.9 2.2 -3.2 -4.1 8.8 9.3 3.00 2.25 Developing countries 4.6 6.1 6.0 6.1 -4.8 -4.1 NA NA NA NA of which : Tunisia 1.7 5.6 2.7 2.7 -2.0 -2.6 14.9 14.3 5.875 5.0 Morocco 3.2 5.5 2.8 1.2 NA NA NA NA NA NA South Africa 3.6 1.9 8.9 6.0 NA NA NA NA NA NA Chile 2.2 3.3 2.5 2.8 NA NA NA NA NA NA Source: 2003 BCT Annual Report. [World economic prospects and international financial statistics from the IMF. Ministry of Development & International Cooperation and the National Institute of Statistics (INS) for statistics relating to Tunisia].
(1) In January the unemployment rate was 5.6%. (2) Base 100 in 1995. (3) Money market rate for December of each year , except for France (interest rate on deposits) and Tunisia (call for bids rate). - NA : Not Available. Tunisia’s Economic Situation Annual Report 2003 9 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
n Activities in the countries that contribute most to world economic growth showed the following trends : In the United States, the first signs of economic recovery showed up in 2002 (2.2% of GDP growth) and continued into 2003, as concern over international conditions faded somewhat starting in the second quarter. The US growth rate rose to 3.1% in constant terms. Accommodating monetary, tax and budgetary policies boosted household and business expenditure. In particular, very favorable generalized conditions for financing economic activities boosted the real estate and investment markets. In effect, after two years of falling rates, this aggregate increased by 4.3%. This dynamic situation brought about a decrease in unemployment, which fell from 6.4% in June 2003 to 5.6% in January 2004.
Japan once again enjoyed economic growth in 2003 (2.7%), up from -0.3%, thanks to increased exports and private investment in the wake of renewed external demand especially from Asian countries. The ongoing deflation that has plagued the country finally tapered off, coming in at -0.3% vs. - 0.9% in 2002.
Other Asian economiesstood up to adverse events in 2003: geopolitical tension in Iraq and North Korea and the SARS epidemic, with external demand the main factor for dynamic activity in the region. China posted the highest growth rate in the region: 9.1% in real terms.
n In Latin America, despite ongoing recession particularly in Brazil and Mexico, there was gradual improvement in other countries of the region that had suffered financial crises. Argentina enjoyed strong GDP growth: 8.7% vs. -10.9% in 2002. The end of the major strike in Venezuela and the commitment by Brazil’s new government to further pursue economic reform both contributed to economic recovery in the region. Thus the economy grew by 1.7% in 2003, compared to -0.1% a year earlier.
Growth in the euro zone, however, did not follow the worldwide pattern of recovery, with economic growth up just 0.4% vs. 0.9% the year before.
France posted 0.9% growth vs. 1.2% in 2002. Economic activity in Germany fell by 0.1% after barely positive growth of just 0.2% in 2002. This drop was due in particular to sluggish exports, fairly moderate trends in household expenditure, and stagnation in business investment levels. This has adversely affected unemployment, up from 8.8% to 9.3% in France and from 8.6% to 9.8% in Germany.
Africa(1) enjoyed higher growth, up from 3.5% in 2002 to 4.5% in 2003, attributable in particular to favorable weather and the effects of investment in anti-poverty programmes. Growth was higher for the three main countries of the Arab Maghreb Union, thanks to strong exports, renewed tourism, and increased income from export of hydrocarbons to Algeria. Increases amounted to about 5.5% for Tunisia and Morocco and 6.7% for Algeria.
Economic gains recorded in 2002 in the countries of Central and Eastern Europe continued into 2003, amounting to economic growth of 4.5% compared to 4.4% in real terms. This improvement concerned the majority of countries, thanks to an expansionary budgetary policy that boosted household expenditure. Thanks to enhanced performance by the oil sector and exports, growth in the Russian economy posted one of the strongest rates in the region: 7.3% vs. 4.7% in 2002.
n Despite the negative events that marked the world economy, notably during the first semester, the volume of
(1) excluding Libya and Egypt 10 Annual Report 2003 Tunisia’s Economic Situation Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
world trade grew by 5.2% (vs. 3.1%), on the coattails of significant recovery in world economic growth over the second half. Furthermore, net improvement on financial markets and recovery in tourism and transport boosted growth in international trade in services: 14.1% in nominal terms, vs. 6% a year earlier. n Capital markets grew on the strength of economic recovery in the main developed and emerging economies and a return of confidence on the part of economic and financial operators. In effect, after the problems that carried over from 2002 into early 2003, indicators on the main financial markets improved for the year as a whole. The Dow Jones and NASDAQ stock market indexes went up by 25% and 50% respectively, while the CAC40, FTSE, DAX and NIKKEI rose from 2002 to 2003 by 16%, 13%, 38% and 24.5% respectively. Yields on various bond markets rose markedly after a longstanding period of considerable depreciation, showing positive trends in 2003 compared to performance in 2002. This pattern held for virtually all market categories.
Similarly, derivative product markets grew at a brisker pace. The volume of financial contracts issued by the full range of these instruments increased in 2003 by 26%, compared to 17% a year earlier. In particular, rate contracts (which account for the huge majority of organized markets) grew by 26.6% in 2003. n For the second straight year, international foreign exchange markets were marked by high volatility, sustained by geopolitical tension and world economic conditions that remained difficult. The dollar was directly implicated in these problems, further affected by negative trends in US budgetary and external balances. It continued to fall against the main currencies, notably the euro. Indeed, the single currency appreciated by 20% in 2003, building on an 18% increase in 2002. Taking advantage of fragile US economic indicators and recovery at home, the Japanese yen grew by more than 10% in 2003 against the dollar. But Japan’s currency continued to fall against the euro, which appreciated by about 8% in 2003.
Tunisia’s Economic Situation Annual Report 2003 11 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
TRENDS IN THE TUNISIAN ECONOMY
n Despite improvement in the world economy starting the second half of 2003, conditions continued to be difficult in a number of regions, notably the euro zone, which was marked by persistent slowing of economic growth.
While sensitive to events in the European Union, the Tunisian Economy managed to maintain its usual high growth rate: 5.6% in real terms in 2003 vs. 1.7% in 2002 and 4.9% in 2001. This was attributable in particular to: â Growth in the agricultural and fishing sector (up 21.5% vs. 11% in 2002); â Agrofood industries (up 3% vs. 0.5% in 2002); and â Ongoing vigorous growth in mechanical and electrical industries (up 5.1% vs. 3.5% a year earlier).
Qualitatively, the Tunisian Economy continues to diversify its activities. Although somewhat timid, tourism was on the rise, and this contributed to a slightly higher growth rate for the economy exclusive of agriculture and fishing, up from 3.5% to 3.6% in constant terms. Other economic aggregates (aside from gross fixed capital formation) also evolved favorably, further contributing to the country’s overall economic and financial balances.
â After evolving positively but weakly, gross fixed capital formation was down 0.3% as a result of the drop in foreign direct investment (-35.8% compared to +66.7% in 2002), attributable to the lack of privatization transactions in 2003 and the drop in public investments (-2.4% vs. +1.3% in 2002). Despite the downturn, GFCF benefited from increased private investment: +1.5% vs. -0.7% a year earlier. This increase was made possible in particular by the higher level of investment in manufacturing industries (+4.6%) and communications (+18%). Given the diverging trends in the components of this aggregate, the investment rate fell from 25.2% to 23.3% of GDP.
In line with 2003’s sustained economic growth : n The number of new jobs rose from 62,600 in 2002 to 65,000 in 2003, less than the 69,300 jobs created in 2001 but enough to lower the unemployment rate from 14.9% in 2002 to 14.3% in 2003;
n The savings rate rose from 21.5% to 21.8% of Gross National Available Income (GNAI) vs. a drop of two percentage points in 2002.
12 Annual Report 2003 Tunisia’s Economic Situation Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
TRENDS IN TUNISIA’S MAIN ECONOMIC INDICATORS (In MTD unless otherwise indicated) Variation in % Description 2000 2001 2002 2003 2002/ 2003/ 2001 2002 GDP in constant prices (1990) 17,181 18,017 18,318 19,339 1.7 5.6 -GDP exclusive of agriculture and fishing 14,898 15,780 16,327 16,920 3.5 3.6 - GNP Per capita (in dinars) 2,670 2,831 2,918 3,131 3.1 7.3 -Total national consumption 20,346 22,036 23,625 25,479 7.2 7.9 -Gross national savings 6,160 6,757 6,466 7,109 -4.3 9.9 -National savings rate (% of GNAI)(1) 23.2 23.5 21.5 21.8 -2.0 0.3 -Gross Fixed Capital Formation 7,020 7,527 7,540 7,520 0.2 -0.3 -Investment rate (% of GDP) (1) 26.3 26.2 25.2 23.3 -1.0 -1.9 -Consumer price index (2000=100) 100.0 102.0 104.8 107.6 2.7 2.7 -New jobs (in thousand jobs) (2) 67 69.3 62.6 65.0 -9.7 3.8 -Deficit in the trade balance (FOB/CIF) 3,733 4,161 3,762 3,696 -9.6 -1.8 -Rate of coverage (Exports/Imports in %) 68.2 69.6 72.2 73.7 2.6 1.5 -Earnings from tourism 2,095 2,341 2,021 1,903 -13.7 -5.8 -Current deficit(3) 1,126 1,209 1,060 941 -149 -119 - in % of GDP(1) 4.2 4.2 3.5 2.9 -0.7 -0.6 -Balance of the general balance of payments(3) -333 +374 +199 +493 -175 294 -Coefficient of external debt service (in %)(1) 19.4 13.3 14.9 13.1 1.6 -1.8 -Rate of external debt (in % of GNAI)(1) 51.7 52.2 53.6 53.3 1.4 -0.3 -Budget deficit (in % of GDP)(1) 2.4 3.5 1.9 3.2 -1.6 1.3 -Total State indebtedness/GDP (in %)(1) 60.7 61.9 61.1 59.8 -0.8 -1.3 - Money supply M3 15,634 17,402 18,301 19,453 5.2 6.3 -The economy’s liquidity rate (M3/GDP) in % (1) 53.4 56.8 59.2 58.8 2.4 -0.4 Net external holdings(3) 1,408 1,597 1,909 2,279 312 370 -of which : net holdings in foreign currency(3) 2,423 2,810 3,011 3,503 201 492 in days of imports(4) 74 74 80 90 6 10 -Net claims on the State(3) 4,091 3,472 3,391 3,288 -81 -103 -Funding provided by the financial system to the 18,315 20,018 20,954 21,912 4.7 4.6 economy Source : 2003 BCT Annual Report, Central Bank of Tunisia, Ministry of Development and International Cooperation, Ministry of Finance, and the National Institute of Statistics (INS). 1. Variations in percentage points 3. Variations in Million Tunisian Dinars (MTD) 2. Non agricultural activities 4. Variations in terms of days n The level of consumption continued to grow steadily: 7.9% in 2003 vs. 7.2% in 2002. n Despite higher prices for raw materials on world markets, occasional imbalances in supplying national markets, and the floods that occurred over the last four months of 2003, the consumer price index rose by 2.7%, the same rate as the year before. n Indicators on the country’s external sector improved, involving in particular: © The current deficit fell from 3.5% of GDP in 2002 to 2.9% in 2003 because of the improvement in the trade balance deficit. The rate of coverage of imports by exports improved from 72.7% in 2002 to 73.7% in 2003. This improvement in the current deficit, along with the 170 MTD increase in net capital inflows (vs. a drop of 311 MTD in 2002) yielded a 493 MTD surplus in the general balance of payments, compared to 199 MTD a year earlier ;
Tunisia’s Economic Situation Annual Report 2003 13 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
© Parameters of external debt ; the external debt service coefficient dropped from 14.9% in 2002 to 13.1% in 2003 and the external indebtedness rate expressed as a percentage of GNAI from 53.6% to 53.3% ; © Net holdings in foreign currency increased from 3,011 MTD in 2002 to 3,503 MTD in 2003, the equivalent of 80 and 90 days of imports respectively ; © As for public finances, the budget deficit expressed in GDP increased from 1.9% in 2002 to 3.2% in 2003. This increase was due to the lack of major income from privatization transactions and the increase in capital goods expenditure and loans (4.3% vs. 0.2% in 2002). There was a decrease in the tax burden, down from 21.5% of GDP in 2002 to 20.6% in 2003. On the other hand, the total state indebtedness rate as a percentage of GDP fell from 61.1% to 59.8% ; © Monetary balance was marked by aggregates relating to currency and counterparts that met targeted objectives. In effect, it was mainly money supply M3 that increased, by 6.3%, along with financing of the economy, by 4.6%, compared to a 7.9% economic growth rate in current prices. Net external holdings in foreign currency increased by 492 MTD, while net claims on the State fell by 103 MTD.
The foreign exchange market Transactions on the foreign exchange market in 2003 were down by 2.8% compared to the previous year’s volume. This characterized both cash and forward transactions.
I- TRENDS IN THE DINAR’S VALUE AGAINST THE MAIN FOREIGN CURRENCIES
Affected by volatility on international foreign exchange markets, the Tunisian dinar continued to depreciate in 2003 against the euro. The annual average for 2003 came in at -7.9% vs. -4.0% for 2002. The dinar also fell against the Moroccan dirham, for the second year in a row:-3.8% for 2003 vs. -1.2% a year earlier. On the other hand, Tunisia’s currency gained 10.4% against the US dollar and 2.2% against the Japanese yen in 2003, compared to 1.3% and 4.4% respectively in 2002.
TRENDS IN AVERAGE RATES FOR THE MAIN FOREIGN CURRENCIES AGAINST THE DINAR(1) (spot and in account transactions)
(2) DESCRIPTION 1999 2000 2001 2002 2003 Variation in % 2002/01 2003/02 1 US dollar 1.1884 1.3716 1.4390 1.4212 1.2877 1.3 10.4
1 Euro 1.2646 1.2633 1.2877 1.3418 1.4573 -4.0 -7.9
1 pound sterling 1.9219 2.0702 2.0649 2.1242 2.0943 -2.8 1.4
1,000 Japanese yens 10.4891 12.6904 11.7993 11.3004 11.0600 4.4 2.2
10 Moroccan dirhams 1.2148 1.2905 1.2737 1.2887 1.3391 -1.2 -3.8
(1) Rate on the interbank market Source : 2003 BCT Annual Report (2) (-) means depreciation of the dinar and (+) means appreciation.
14 Annual Report 2003 Tunisia’s Economic Situation Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
After depreciating by 2.8% in 2002, the dinar gained 1.4% in value against the pound sterling in 2003. Using rates at the end of each period, the dinar appreciated by 10.4% against the US dollar and by 0.9% against the pound sterling. It depreciated, however, by 8.3% against the euro, 4% against the Moroccan dirham, and 0.2% against the Japanese yen.
II- TRENDS IN TRANSACTIONS ON THE FOREIGN EXCHANGE MARKET
Despite strong economic recovery, the volume of financial transactions decreased on Tunisia’s foreign exchange market. n Cash transactions Cash transactions fell by 2.8% in 2003, compared to -2.2% in 2002. This was due to the 8.0% decrease in foreign currency transactions against the dinar, compared to an even greater drop of 11.9% in 2002. The drop was somewhat countered by a slight increase in transactions from one foreign currency to another: +0.8% vs. +6.0% in 2002. Despite the decrease, the share of transactions from one foreign currency to another in the global volume of cash transactions increased from 59% in 2002 to 61% in 2003. The share of transactions involving foreign currency against the dinar carried out on the interbank market by offshore banks amounted to 25.8% in 2003, compared to 24.5% in 2002. With better market liquidity, Central Bank of Tunisia intervention on the interbank market fell from a 29% share in 2002 to 17% in 2003.
TRENDS IN FOREIGN EXCHANGE MARKET INDICATORS (In MTD) End of period Variation in % 2001 2002 2003 Description 2002/2001 2003/2002 CASH TRANSACTIONS 22,056 21,569 20,961 -2.2 -2.8 - Foreign Currency/Dinar transactions 10,103 8,902 8,191 -11.9 -8.0 * Interbank market 7,058 6,324 6,774 -10.4 +7.1 of which: -Deposit banks 5,073 4,665 4,884 -8.0 +4.7 -Development banks 145 109 143 -24.8 +31.2 * Central Bank of Tunisia 3,045 2,578 1,417 -15.3 -45.0 - Transactions from one foreign 11,953 12,667 12,770 +6.0 +0.8 currency to another of which : transactions between 425 884 748 +108.0 -15.4 Tunisian authorized intermediaries FORWARD TRANSACTIONS 828.8 975.3 964.0 +17.7 -1.2 of which: transactions between Tun i s i a n 731.2 946.0 945.0 +29.4 -0.1 authorized intermediaries and companies
TOTAL 22,884.8 22,544.3 21,925.0 -1.5 -2.7 Source : 2003 BCT Annual Report
The single currency and the US dollar are the two main currencies for cash transactions against the dinar, with shares amounting to 49.7% and 47.2% respectively in 2003 compared to 52.1% and 44.3% in 2002. The large majority of transactions from one foreign currency to another were handled by foreign correspondents: 94% vs. 93% in 2002.
Tunisia’s Economic Situation Annual Report 2003 15 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
n Forward transactions The volume of forward transactions remains weak compared to overall transactions on the foreign exchange market, coming in at 4.4% vs. 4.3% a year earlier. Forward transactions involved more particularly sales, accounting for 80% in 2003 vs. 76% in 2002. With reference to structure by foreign currency : the euro as the currency for forward foreign exchange transactions to cover imports and exports represented 52.3% of overall relevant transactions, followed by the US dollar at 44%.
16 Annual Report 2003 Tunisia’s Economic Situation II MONETARY, FINANCIAL AND FOREIGN EXCHANGE CONDITIONS IN 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
MONETARY, FINANCIAL AND FOREIGN EXCHANGE CONDITIONS IN 2003
In a context of financial globalization troubled by worldwide conditions that have remained steadily poor over the past few years, Tunisian monetary and foreign exchange officials continued to pursue integration in the world economy while meeting the new challenges of international competition.
Action in 2003 involved mainly adoption of measures targeting : n reorganization of monetary policy channels; n enhanced competitiveness for the financial sector; n renewed investment; n improved competitive standing for the economy; and n more flexible foreign exchange and foreign trade regulations.
1- Conduct of monetary policy
Monetary authorities concentrated on : © more flexibility in monetary policy; © reorganization of the money market; © renewed attention to promoting savings; and © better conditions for financing of the economy.
1.1- More flexibility in monetary policy Given the ongoing weakness of world economic conditions and its ensuing adverse impact on the Tunisian economy, the Central Bank of Tunisia lowered its key rate twice over the first half of 2003, from 5.875% to 5.5%, then to 5%. Such flexibility in monetary policy, which was helped by ongoing success in keeping inflation down, sought to foster economic recovery, especially in investment. The Central Bank of Tunisia also revised the penalty rate that banks must pay if they go below the required level of mandatory reserves. This revision lowered the level of the average rate of the money market +5 percentage points to that of the money market rate + two and a half points.(1) The priority given to reducing fees paid by banks in favor of greater financing of the economy was extended to conditions governing the portion of refinancing from the Central Bank of Tunisia that is not in line with loans made by banks as per the stipulations of title II of circular n° 87-47. The relevant amount is to be considered as an advance to a current account using the Central Bank of Tunisia’s intervention rate plus 2.5 percentage points instead of 5 points previously(2).
1.2- Reorganization of the money market To better meet the challenges of a market economy and after promulgation of law n°2000-37 of 4 April 2000 modifying law n°58-90 governing the creation and organization of the Issuing Institution, the Central Bank of Tunisia instituted Open Market transactions. Diversifying monetary policy instruments allows the Central Bank of Tunisia to buy or take in pawn public and private securities from banks. This mechanism, intended to better regulate bank liquidity, is also expected to boost the secondary market for public securities. Seeking to increase and to make transactions on the
(1) Cf Central Bank of Tunisia circular to banks n° 2003-08 of 11 July 2003. (2) Cf Central Bank of Tunisia circular to banks n° 2003-09 of 11 July 2003, which modifies BCT circular to banks n° 2003-06 of 5 May 2003.
Monetary, Financial and Foreign Exchange Conditions Annual Report 2003 19 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
interbank market more secure, operators benefited from the introduction of sales with repurchase options. Income from this manner of acquiring stocks and commercial paper involving transfer of property are exempt from VAT.(3)
1.3- Promoting savings In seeking new ways to reactivate promotion of the main categories of savings, monetary authorities adopted a slate of measures in 2003, dealing mainly with : © Adjustment of the regulation governing special savings accounts, which starting 1st January 2004 carry a loyalty premium and new time frames for calculating and capitalizing interest.(4) This adjustment eliminates the ceiling on the amount that can be deposited in an account as well as the number of accounts that can be opened at any given bank. Anyone with an account that requires a minimum of 10 dinars for any debit or credit transaction will have a bankbook or electronic withdrawal card, but no checkbooks will be issued. © The move to harmonize conditions for managing investment savings accounts and stock savings accounts. Since its introduction in 1982, investment savings accounts have benefited from adjustments in operating conditions(5) . Accounts can be opened at a postal savings center or a bank. Remuneration is set, at a minimum, at the savings rate. Deposits can be made by private parties to carry out new individual projects eligible for tax breaks available for this purpose. Implementation of these projects can be carried out to benefit the account holder’s children or can involve subscription in the initial company capital eligible for deduction of income or reinvested profits as provided for in legislation governing investment incentives. If funds are withdrawn for use other than implementation of the envisaged project, taxes and interest on amounts remitted will be levied. It was also decided to harmonize the tax system relating to investment savings accounts (6). Thus the amount that can be deposited in savings accounts yearly in this framework as doubly deductible from the tax base was increased from 5,000 to 20,000 dinars. ©Extension of a network to attract and promote long term savings by enabling the national post office to deal in insurance services. An agreement has been signed to allow the post office to issue insurance contracts(7). In this same context, agreement was reached in November 2003 between the Tunisia’s Professional Association for Banks and Financial Institutions and the Tunisian Federation of Insurance Companies concerning the conditions under which banks can sell insurance products.
1.4- Financing of the Economy In the framework of ongoing economic policy, there have been several improvements in financing conditions, especially for agriculture. Decisions in this area involve : © Money to acquire, transport and store dry fodder and bran pellets to boost national stocks of dry feed. New loans were made available for this purpose to professional agricultural structures, agricultural service companies, agricultural exploitation and development companies, farmers themselves and merchants. Loans take the form of advances, covering 80% of the value of back-up stocks of dry fodder and bran pellets(!) ; © A change in conditions for granting seasonal loans, due to the increased cost of a number of inputs. Thus the amount available for seasonal crop loans has been revised upward, depending on the kind of crop and the size of the farm, of yields and of the volume of dry fodder sold in previous seasons(9) ;
(3) Cf : Article 47 of law n° 2003-80 of 29/12/2003, which provides for the (7) Cf : Articles 39 to 42 of law n° 2003-80 of 29/12/2003 providing for the 2004 budget, as published in the Official Journal of the Tunisian Republic 2004 budget, published in the Official Journal of the Tunisian Republic n° 104 n°104 of 30/12/2003. of 30/12/2003. (4) Cf : Central Bank of Tunisia circular to banks n°2003-10 of 15/09/2003. (8) Cf : Central Bank of Tunisia circular to banks n°2003-09 of 11 July 2003, (5) Cf : Ministry of Finance decree of 24 April 2003, published in the Official which modifies Central Bank of Tunisia circular to banks n° 2003-06 of 5 Journal of the Tunisian Republic n°35 of 2 May 2003. May 2003. (6) Cf : Articles 45 and 46 of law n°2003-80 of 29/12/2003 providing for the (9) Cf : Central Bank of Tunisia circular to banks n°2003-12 of 15 October 2003. 2004 budget published in the Official Journal of the Tunisian Republic n° 104 of 30/12/2003. 20 Annual Report 2003 Monetary, Financial and Foreign Exchange Conditions Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
© Complementary loans were made available to cereal growers for supplementary fertilization and anti-fungus treatments.(10) This decision was made on the basis of needs linked to prevailing good weather conditions ; © Greater intervention by the national fund to promote handicrafts and small trades (FONAPRA) for refrigerated transport of fishing products(11).
2- Strengthening the competitiveness of the financial sector To better meet international norms, the financial sector in 2003 benefited from a set of measures meant to boost its competitiveness.
2.1- Measures in support of modernization and restructuring in the banking sector Relevant measures, meant to strengthen the competitiveness of the sector and improve the quality of services, targeted mainly : © Finalization of the process to implement the overall electronic clearing system by introducing electronic processing of the standardized letter of exchange ; © Phased-in implementation by the Central Bank of Tunisia of the system to transfer large amounts ; © Elaboration of a charter between the Tunisia’s Professional Association for Banks and Financial Institutions (APTBEF) and Tunisia-Telecom, which maps out the procedures needed to ensure quality services ; © Acceleration of the process to develop electronic banking, symbolized by signature in July 2001 of an agreement among banks, with 791,000 bank cards issued in 2003 (compared to 502,000 in 2001). With 560 cash and automatic teller machines (DAB and GAB), two out of three bank branches now have a cash machine ; Furthermore, the number of outlets and banking branches equipped with card processing systems increased to 10,452 in 2003, compared to 9,688 a year earlier ; © Accounting norms governing consolidation of accounts were issued in December 2003, meant to improve the quality of financial data and thus the financial transparency of companies belonging to the same group(12) ; © Final stage in clearing up finances at four development banks slated to become all-purpose banks. This involved in particular the handing over of bad debts to claim collection companies, facilitated by deduction from the tax base of losses resulting from the sale of claims between 1st January 2002 and 31 December 2004 to collection companies and from shareholdings in close-ended investment companies. Furthermore, these banks benefited from the possibility of covering losses on sale transactions from special regime reserves(13) ; © The completion of the joint programme to clear up development bank corporate issues, with the APTBEF providing training and the redeployment of human resources to operational branches ; © An increase from 100 to 500 dinars in the ceiling of doubtful claims that can be deducted by loan institutions acting as banks, which will allow these banks to respect prudential norms and to enhance their competitiveness(14).
2.2- Support to banks that help tourism companies in difficulty To encourage loan institutions to continue to help the tourism sector, public authorities introduced major measures to deal with indebtedness at a number of hotels. Banks are now allowed to write off late charges and interest on interest from 01/09/2001 to 30/06/2003. This should help companies before the end of 2004(15). These measures are available to Saharan tourism companies, companies started by new promoters, and companies in the delegations of Tabarka and Ain Draham. This decision involves:
(10) Cf : Notes of the Central Bank of Tunisia circular to banks n°01 of 31 (14) Cf : Article 48 of Law n°2003-80 of 29/12/2003, which provides for the January 2003 and n°01 of 21 January 2004. 2004 budget, published in the Official Journal of the Tunisian Republic n°104 of (11) Cf : Central Bank of Tunisia circular to banks n°2003-01 of 03/02/2003. 30/12/2003. (12) Minister of Finance decree of 1st December 2003, published in the Official (15) Cf : Article 25 of Law n°2003-80 of 29/12/2003, which provides for the Journal of the Tunisian Republic n°97 of 05/12/2003. 2004 budget, published in the Official Journal of the Tunisian Republic n°104 of (13) Cf : Law n°2003-32 of 28 April 2003, published in the Official Journal of 30/12/2003. the Tunisian Republic n°34 of 29/04/2003. Monetary, Financial and Foreign Exchange Conditions Annual Report 2003 21 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
© The writing off on loan institution accounts of late charges and interest on interest left to these companies; and © Deduction from taxable profits of interest turned into shareholdings in the capital or current account of associates(16).
2.3- Organization of capital risk investment companies (SICAR) In the framework of setting up a single representative to deal with authorities, these companies were invited to constitute a professional association similar to the APTBEF. Its statute will be subject to Minister of Finance approval, on the basis of advice from the Financial Market Council (CMF)(17).
3- Boosting investment
To limit the impact of adverse international and national conditions and to favor job creation, authorities adopted measures to boost investment.
3.1- Promotion of investments by young graduates of higher education To help graduates get started in the working world, especially to start up their own business at a cost not exceeding 50,000 dinars, law n° 2002-101 of 17 December 2002 and the relevant application decree n°2003-1446 of 25 June 2003 published in the Official Journal of the Tunisian Republic n°51 of 27 June 2003 provides for a number of incentives. This involves notably the granting of an investment premium up to 6% of the cost of a project (exclusive of revolving funds); assumption by the State of contributions to the social security scheme for wages paid; and exemption from contributions to the fund to promote low cost housing (FOPROLOS) and from the vocational training tax. Conditions to qualify for the investment premium are governed by the above-mentioned decree. Furthermore, the list of services provided by small and micro-companies started by young graduates who qualify for these benefits was extended to consulting and audit/accounting firms serving industry and to telecommunication activities. The investment premium was increased to 21% and 25% of the cost of a project (exclusive of revolving funds) carried out in either regional development zones as defined in annex 1 of decree n°99-483 of 1st March 1999 and priority zones as defined in annex 1A of decree n° 2003-1538 of 2 July 2003. Authorities have also reworked the scope of the fund to promote industrial development (FOPRODI) involving financing of small scale businesses. Promoters of projects costing no more than 500,000 dinars can choose between shareholdings by the fund to promote industrial development (FOPRODI) or funding to be repaid as a loan. Funding can cover no more than 60% of minimum capital, with the promoter personally providing no less than 10%, at an interest rate of 3% per year for a period of 12 years and a five year grace period(18).
3.2- Incentives to recruit graduates of higher education The State will assume 50% of wages paid to graduates of higher education for one year, up to 250 dinars a month. This incentive is available to private companies that give graduates of higher education their first job and to new small and medium businesses participating in upgrading programmes, those located in regional development zones, and those providing additional jobs(19).
(16) Cf : Articles 30 to 35 of law n°2003-80 of 29/12/2003, which provides for (18) Cf : Decree n° 2003-1670 of 4 August 2003, published in the Official the 2004 budget, published in the Official Journal of the Tunisian Republic Journal of the Tunisian Republic n° 65 of 15 August 2003. n°104 of 30/12/2003. (19) Cf : Article 16 of law n°2003-80 of 29/12/2003 providing for the 2004 (17) Cf : Article 51 of law n° 2003-80 of 29/12/2003 providing for the 2004 budget, published in the Official Journal of the Tunisian Republic n° 104 of budget, published in the Official Journal of the Tunisian Republic n°104 of 30/12/2003. 30/12/2003.
22 Annual Report 2003 Monetary, Financial and Foreign Exchange Conditions Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
3.3- Instauration of a system to guarantee loans granted to medium size industrial and service companies To encourage loan institutions to provide financing for projects launched by young promoters without any real collateral, public authorities have introduced a system to guarantee loans for such initiatives(20). Management of this guarantee system was assigned to the Tunisian Guaranty Company «SOTUGAR», founded in 2003 with 3 million Tunisian dinars in capital held by the State and loan institutions, 40 million Tunisian dinars in funding from the National Guaranty Fund (FNG) and a 9 million euro grant from the European Union in the framework of the industrial modernization programme. These funds also come from contributions from loan beneficiaries and capital risk mutual investment companies set up for this purpose(21). Loan beneficiaries pay 0.6% in annual interest on medium and long term loans and 1% on short term bank loans. Capital risk mutual investment companies pay 3% of the amount of their holdings(22).
4 - Enhanced economic competitiveness
Conscious of the need to ensure successful integration of the Tunisian economy in the globalization process, authorities have continued to take measures to boost corporate competitiveness. These measures have involved : © Encouraging company upgrading, with a rebate of the full amount of VAT on investments made (23); © More flexible tax conditions for companies that band together, with a reduced rate for the parent company’s holdings in the capital of affiliated companies; on the other hand, the parent company must post its stock on the stock market; authorities have also allowed for tax breaks on funding between companies belonging to the same group, by transfer from one associate’s current account to another’s(24) ; © A break on customs fees, meant to boost economic competitiveness by means of an overall reduction in customs duty rates(25); the customs exempt status of raw materials, semi finished products and other products that are not manufactured locally but imported from the European Union has been extended to other countries of origin(26).
5 - More flexible conditions governing foreign exchange and foreign trade In line with the move to current convertibility of the dinar and liberalized external finances, authorities adopted new measures to support initiatives by both non resident and resident economic operators. These measures concerned in particular : © Strengthening of incentives for foreigners to make portfolio investments : foreign investors are allowed to acquire transferable Treasury bonds up to the ceilings(27) set by the Central Bank of Tunisia on the basis of advice from the Ministry of Finance; © The introduction of convertible dinar sub-delegatory accounts that can be opened by private individuals working as foreign exchange sub-delegatories, as well as resident private individuals with holdings in the capital of corporate bodies
(20) Cf : Article 24 of law n°2002-101 of 17 December 2002 providing for the 2003 budget. (21) Cf : Decree n°2003-456 of 24 February 2003, published in the Official Journal of the Tunisian Republic n°18 of 4 March 2003. (22) Cf : Minister of Finance directive of 14 April 2003, published in the Official Journal of the Tunisian Republic n°32 of 22 April 2003. (23) Cf : Article 15 of law n° 2003-80 of 29 December 2003, providing for the 2004 budget. (24) Cf : Articles 17 to 22 of law n°2003-80 of 29/12/2003, providing for the 2004 budget, published in the Official Journal of the Tunisian Republic n° 104 of 30/12/2003. (25) Cf : Article 13 of law n° 2003-80 of 29/12/2003, providing for the 2004 budget, published in the Official Journal of the Tunisian Republic n°104 of 30/12/2003. (26) Cf : Article 14 of law n°2003-80 of 29/12/2003, providing for the 2004 budget, published in the Official Journal of the Tunisian Republic n°104 of 30/12/2003. (27) Cf : Decree n° 2003-2391 of 17 November 2003, published in the Official Journal of the Tunisian Republic n°94 of 25 November 2003. Monetary, Financial and Foreign Exchange Conditions Annual Report 2003 23 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
qualifying as foreign currency sub delegatories; conditions for managing these accounts are defined in Central Bank of Tunisia circular to authorized intermediaries n°2003-05 of 27 March 2003; © Improved conditions governing professional accounts, allowing for wider management of foreign exchange risk(28); © More flexible foreign trade formalities, by integrating into the integrated system of automated processing of foreign trade formalities those transactions relating to foreign trade bills, definitive invoices for exports and commercial contracts for imports entering as temporary import or for warehousing; this integration in a single system will favor data exchange(29).
(28) Central Bank of Tunisia circular to authorized intermediaries n° 2003-13 of 12 November 2003. (29) Cf : Central Bank of Tunisia circular to authorized intermediaries n° 2003-15 of 12/12/2003.
24 Annual Report 2003 Monetary, Financial and Foreign Exchange Conditions III BANKING LIQUIDITY AND THE STATUS OF MONETARY BALANCE Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
BANKING LIQUIDITY AND THE STATUS OF MONETARY BALANCE
For the second straight year, deposit bank inflows grew faster than outflows, especially for loans, creating easy cash flow. This improved liquidity made it possible for banks to reduce recourse to Central Bank of Tunisia refinancing compared to the year before. Consequently, in light of trends in economic fundamentals, monetary authorities had to : © reduce the call for bids rate twice; © diversify their means of intervention by introducing an open market policy to boost the secondary market for State securities.
1- Trends in deposit banks liquidity
After rising by 21 million Tunisian dinars (MTD) in 2002 in terms of averages, banking liquidity at deposit banks grew by 379 million Tunisian dinars in 2003. This improvement was based on a significant increase of 523 million Tunisian dinars in net holdings in hard currency and to a lesser degree by a drop of 99 million Tunisian dinars in other net factors. In any case, the resulting expansionary impact was attenuated by the restrictive effects of the increase in banknotes and coins in circulation (+185 MTD) and of the balance in the treasury’s current account balance (+84 MTD). TRENDS IN BANKING LIQUIDITY FACTORS (data in terms of daily averages, in MTD) (1) PERIOD 2001 2002 2003 Variation DESCRIPTION 2002/2001 2003/2002
- Banknotes and coins in circulation -2,426 -2,579 -2,764 -153 -185 - Balance of the Treasury’s current account -198 -287 -371 -89 -84 - Net holdings in foreign currency +2,302 +2,756 +3,279 + 454 +523 - Other factors -259 -477 -378 -218 +99
Total of autonomous factors -581 -587 -234 -6 +353
Balance of banking’s ordinary current account -219 -192 -166 +27 +26
Monetary policy transactions +800 +779 +400 -21 -379 of which: - Calls for bids +586 +370 +256 -216 -114 - Uptake allowances for three month Treasury bonds +47 +380 +125 +333 -255 - Open market transactions - - +12 - +12 Source : 2003 Central Bank of Tunisia Annual Report (1) (-) indicates the restrictive impact of liquidity factors and (+) indicates the expansive effect on banking liquidity. Trends in factors relating to banking liquidity throughout the year showed four main phases, which showed diverging trends : © Aside from a 60 MTD tightening of cash flow in February, the first half of the year was characterized by expanded liquidity caused in particular by the increase in net holdings in foreign currency, following new drawings on external loans. This expansion was somewhat reversed by the restrictive effects of trends in banknotes and coins in circulation and by the balance of the Treasury’s current account.
Banking Liquidity and The Status of Monetary Balance Annual Report 2003 27 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
© During the second period (July 2003), the significant increase in the volume of banknotes and coins in circulation and of the balance of the Treasury’s current account had a net restrictive effect, despite the expansionary effects of the increase in net external holdings. © Over the third period, which ran from August to October 2003, trends in banking liquidity factors had an expansionary net effect. This improved cash flow at banks was a result of the lower volume of banknotes and coins in circulation and of the increase in net holdings in foreign currency, thanks to higher income from tourism and from new drawings. © These conditions of easy liquidity reversed in the fourth period, which covered the last two months of 2003. In effect, the return to a steep increase in the Treasury’s current account and of banknotes and coins in circulation had a restrictive effect that could not be offset by expansionary factors, particularly the ongoing increase in net holdings in foreign currency.
2- Trends in intervention by the Central Bank of Tunisia on the money market
Given the above-mentioned trends in deposit bank liquidity, the Issuing Institution adjusted its interventions on the money market while diversifying its refinancing techniques and acting at the level of the call for bids rate. The dominant innovation in refinancing products led to a new procedure based on the open market technique meant to boost secondary markets for public securities and to create a yield curve. 23,500 buying and 18,000 selling transactions were processed using this new instrument, involving a total of 41 MTD.Furthermore, given the context of difficult international conditions and a halt in investment trends in the country, the Central Bank of Tunisia intervened to boost financing of economic activity by lowering the call for bids rate from 5.875% to 5.5% on 27 March 2003 then to 5% on 19 June 2003. QUARTERLY TRENDS IN THE VOLUME OF MONETARY POLICY TRANSACTIONS (Date in terms of daily averages, in MTD ) DESCRIPTION Year Quarterly average 2003 Year 2002 I II III IV 2003 Calls for bids 370 243 190 345 246 256 1 to 7 day uptake allowances 35 0 0 0 0 0 3 month treasury bond uptakes 380 189 132 111 69 125 Net periodic transactions -6 22 -2 -2 9 7 Open market transactions - - 12 20 18 12 TOTAL 779 454 332 474 342 400 Source : 2003 BCT Annual Report
In line with the easy liquidity prevailing throughout much of 2003, recourse by deposit banks to Central Bank of Tunisia refinancing fell from 779 MTD to 400 MTD. In terms of quarterly averages, the lowest levels of intervention took place in the second and fourth quarters of the year. Thus such financing was mainly in the form of calls for bids, the share of such transactions in total refinancing amounting to 64% vs. 47% in 2002. The volume of refinancing in the form of three month Treasury bond uptakes represented 31% of total financing vs. 48% a year earlier. Open market transactions, introduced for the first time in April, accounted for 3% of the Central Bank of Tunisia’s overall interventions. In this context of easy banking liquidity and under the impact of two drops in the Central Bank of Tunisia’s key rate, the day to day interest rate on the money market was down throughout 2003, from 5.90625% on 2 January to 4.96875% on 31 December 2003. The average money market rate also declined over the first semester, from 5.90625%
28 Annual Report 2003 Banking Liquidity and The Status of Monetary Balance Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
in January to 5.31250% in June, remaining at about 5% for the rest of the year. This correlation also concerned trends in the rate for three month Treasury bond uptakes which, after hitting 6.125% in the first quarter, moved to 5.6250% in the second quarter and 5.09375% in the second half of 2003. Trends in financial system balance
With a view to maintaining basic balances, monetary authorities continued to do what was needed to keep Tunisian economy liquidity trends going in the right direction.This required a reduction in the key rate and monitoring of banking commitments. Thanks to this pro-active approach, financial system resources posted an increase in the M3 aggregate that was lower than that of loans to the economy.
FINANCIAL SYSTEM RESOURCES(1) AND THEIR COUNTERPARTS (*) In million dinars Variation (%) DESCRIPTION 2001 2002 2003 2002/2001 2003/2002 M4 Aggregate 18,048 18,756 19,810 3.9 5.6 Money supply in the widest sense (M3) 17,402 18,301 19,453 5.2 6.3 Money supply in the strictest sense (M2) 16,052 16,681 17,855 3.9 7.0 M1 money 6,745 6,618 6,988 -1.9 5.6 Fiduciary money 2,378 2,518 2,663 5.9 5.8 Bank money 4,367 4,100 4,325 -6.1 5.5 Quasi-money 9,307 10,063 10,867 8.1 8.0 M3 - M2 1,350 1,620 1,598 20.0 -1.4 M4 - M3 646 455 357 -29.6 -21.5 Other resources 7,039 7,498 7,669 6.5 2.3 TOTAL RESOURCES = TOTAL COUNTERPARTS 25,087 26,254 27,479 4.7 4.7 Net external holdings* 1,597 1,909 2,279 312,0 370,0 Domestic loans 23,490 24,345 25,200 3.6 3.5 Net claims on the State* 3,472 3,391 3,288 -81,0 -103,0 Financing of the economy 20,018 20,954 21,912 4.7 4.6 Loans to the economy 19,018 19,771 20,697 4.0 4.7 Securities portfolio 1,000 1,183 1,215 18.3 2.7 * For these aggregates, variations are expressed in MTD (*) Source : 2003 BCT Annual Report
1- Financial system resources
At yearend the M3 monetary aggregate had evolved at a rate of 6.3%, lowered than the 7.9% target set for 2003 but slightly higher than the previous year’s 5.2%. This increase was due to the 7% increase in the M2 aggregate. n In terms of monthly averages, there was a 7.1% increase in the M3 aggregate (compared to 8.4% in 2002), lower than the 7.9% economic growth rate in current terms. Consequently the economy’s liquidity rate fell from 59.2% to 58.8%, with inflation stable at about 2.7%. n On the other hand, the M2 monetary aggregate increased at a faster pace than in 2002, due to greater monetary and quasi-monetary availability. In effect, the M1 aggregate increased by 5.6%, following a 1.9% drop in 2002. And while fiduciary money grew at the same 5.8% pace, bank money bounced back with 5.5% growth compared to a 6.1%
(1) The financial system is made up of resident financial institutions (represented by the Central Bank of Tunisia ), deposit banks, the postal account system, mixed development banks, leasing companies and the postal savings system. Banking Liquidity and The Status of Monetary Balance Annual Report 2003 29 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
decrease in 2002, thanks to increased volume of sight deposits at banks : 6.5% vs. -6.4% a year earlier. Quasi money grew at the same 8% rate as the year before, forward deposits and other financial products grew by 7.7% and savings deposits by 7.0% (vs. 4.2% a year earlier). n The «M3–M2» aggregate fell by 1.4%, following a 20% increase in 2002. This drop was generated by the decrease in the outstanding balance of bond loans issued by the financial system (-12.0% vs. 17.8% the previous year) and the slower pace of growth in home savings (-9.6% vs. 22.7%). The downward trend for the «M4-M3» aggregate continued into 2003. This 21.5% drop was the result of full repayment of the remaining balance of transferable Treasury bonds and the 45 MTD drop in the outstanding balance of treasury bills.
2 - Financial system resource counterparts
Aside from net claims on the State, which continued to drop mainly because of trends in the balance of the Treasury’s current account and the outstanding balance of Treasury bonds held by banks, the other components of resource counterparts were on the rise. n Net external holdings amounted to 2,279 MTD in 2003, up 370 MTD from the previous year. This increase was favored by the reduction in the current deficit, a number of encashments from bond loans in yen and euros, and drawings from IBRD and the African Development Bank (ADB). The 42.3 million euro grant from the European Union for support to the programme to reform basic education caused an improvement in net claims abroad. In light of these trends, the level of net holdings in foreign currency rose, corresponding to an increase in days of imports from 80 in 2002 to 90 in 2003. n Thanks to economic recovery, especially in the agricultural sector, the financial system’s financing of the economy grew at a pace virtually identical to the previous year’s 4.6%. This compares to a goal of 6.6%.
TRENDS IN FINANCING OF THE ECONOMY
In million dinars Variation in % DESCRIPTION 2001 2002 2003 2002/2001 2003/2002 - Loans to the economy 19,018 19,771 20,697 4.0 4.7 Loans from ordinary resources 16,584 17,126 18,320 3.3 7.0 Loans from special resources 2,053 2,243 2,020 9.3 -9.9 Treasury bills * 381 402 357 21,0 -45,0 - Securities portfolio 1,000 1,183 1,215 18.3 2.7 TOTAL 20,018 20,954 21,912 4.7 4.6
* Variations in this aggregate are expressed in MTD Source : 2003 BCT Annual Report
This trend was influenced by loans from ordinary resources, which increased from 3.3% in 2002 to 7% in 2003. Inversely, the outstanding balance of loans from special resources, after increasing by 9.3% in 2002, fell by 9.9% in 2003. The outstanding balance of treasury bills also fell, from 21 MTD in 2002 to -45 MTD in 2003. The lion’s share in financing the economy continued to be provided by deposit banks, up from 86.1% to 87.3%. The outstanding balance of loans to the economy by sector shows a slight increase in the share of agriculture/fishing, regardless of duration, up from 7.7% to 8.1%. Industry’s share fell from 33.9% in 2002 to 33.6% in 2003.
30 Annual Report 2003 Banking Liquidity and The Status of Monetary Balance IV CONDITIONS WITHIN THE BANKING SYSTEM AND AT SPECIALIZED FINANCIAL INSTITUTIONS CONDITIONS AT BANKS CONDITIONS AT DEPOSIT BANKS Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
CONDITIONS WITHIN THE BANKING SYSTEM AND AT SPECIALIZED FINANCIAL INSTITUTIONS
The number of deposit banks in 2003 remained the same as the year before : 14 loan institutions. But there was a move to better serve economic activity areas, by creating 15 new branches : seven in the Greater Tunis area, six in central eastern Tunisia, one in central western Tunisia, and one in the north eastern part of the country. The total number of banking branches thus increased from 842 to 857, one branch per 11,500 inhabitants, compared to 11,800 in 2001. To advance the cause of electronic banking, deposit banks installed 84 new cash machines and automated teller machines, for a 2003 total of 560. And while the process of conversion to all-purpose banks continued, there remained five development banks in 2003. This held true for leasing companies, which continued to number 11.
CONDITIONS AT DEPOSIT BANKS
I - USES AND RESOURCES AT DEPOSIT BANKS
Despite economic recovery throughout the country, deposit bank outflows continued to grow more slower than inflows, and this for the second straight year. The resulting ease in cash flow meant less need for banks to seek refinancing from the Central Bank of Tunisia and thus the latter’s share in total resources fell from 4.3% in 2001 to 2% in 2003.
DEPOSIT BANK RESOURCES AND USES (in million dinars) PERIOD VARIATION 2001 2002 2003 2003/2002 DESCRIPTION In MTD In % -Financing of the economy 17,301 18,392 19,534 1,142 6.2 -Claims on the State 1,466 1,549 1,655 106 6.8 -Treasury accounts 1,198 1,329 1,405 76 5.7 -Other net entries -106 -511 -608 -97 -19.0 Total Uses = Total Resources 19,859 20,759 21,986 1,227 5.9 -Monetary and Quasi-Monetary Resources 14,470 15,186 16,383 1,197 7.9 -Special Resources 2,076 2,436 2,209 -227 -9.3 -Provisions 1,085 1,134 1,444 310 27.3 -Available capital stock equity 1,374 1,501 1,515 14 0.9 -Refinancing = loans from the BCT 854 502 435 -67 -13.3 Source : 2003 BCT Annual Report A -TRENDS IN USES Deposit bank uses amounted to 21,986 MTD, up 5.9% compared to the previous year’s 4.5% growth rate. This faster pace was generated solely by growth in claims on the State.
1- Financing of the economy Despite increased economic activity in 2003, deposit bank financing of the economy grew at virtually the same rate as the year before : 6.2% and 6.3% respectively. The share of this financing in total uses remained 89%.
Conditions at Deposit Banks Annual Report 2003 35 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
1.1- Loans to the economy A consequence of the ongoing trend in banking resources was the increase in financing of the economy that resulted from the faster pace of loans from ordinary resources : 8.4% vs. 4.6% a year earlier.
DEPOSIT BANK FINANCING OF THE ECONOMY (in million dinars) VARIATION PERIOD 2003/2002 DESCRIPTION 2001 2002 2003 In MTD In % Loans from ordinary resources 14,561 15,226 16,499 1,273 8.4 Loans from special resources 1,928 2,131 1,901 -230 -10.8 Securities portfolio 812 1,035 1,134 99 9.6 Total financing of the economy 17,301 18,392 19,534 1,142 6.2 Source : 2003 BCT Annual Report
Trends in this category of loans (the share of which represents 84.5% of total financing of the economy) were also affected by trends in the discount portfolio and frozen claims. The outstanding balance of the former increased by 7.9% (vs. 1.5% in 2002) and the latter by 4.6% (vs. 8.6% in 2002). New loans from ordinary resources went to services (50.2%), industry (31.6%) and agriculture/fishing (18.2%). And the outstanding balance of loans from special resources amounted to 1,901 MTD, down 10.8% after increasing by 10.5% in 2002. Their share in total financing of the economy thus fell from 11.6% to 9.7%, attributable to the move to clear up finances at one Tunisian bank.
1.2- Securities portfolio Boosted by bank acquisition of shareholdings in venture capital companies, the outstanding balance of deposit banks’ securities portfolio increased by 9.6%. This compares to 2002’s considerably higher 27.5% growth rate.
2- Claims on the State Claims on the State amounted to 1,655 MTD, up 6.8% compared to 5.7% the year before. This trend, in line with the trend regarding State indebtedness to deposit banks, concerned both the outstanding balance of Treasury bonds held by these banks and State assumption of hung up claims on a number of public enterprises.
3- Treasury account The balance of deposit banks’ treasury account increased by 76 MTD or 5.7% in 2003. This increase was lower than the previous year’s 10.9%, generated by the increase in foreign currency accounts (1.9%) and in the «net banking correspondents» account (10%).
B- TRENDS IN RESOURCES Thanks to faster growth in monetary and quasi-monetary resources and in the category «available capital stock equity», deposit bank resources were up 5.9%, higher than the previous year’s 4.5%.
1- Monetary and quasi-monetary resources Monetary and quasi-monetary resources amounted to 16,383 MTD, up 7.9% vs. 4.9% in 2002. The share of this category of resources thus increased from 73.2% in 2002 to 74.5% in 2003, influenced by the evolution of monetary and quasi- monetary resources.
36 Annual Report 2003 Conditions at Deposit Banks Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
MONETARY AND QUASI-MONETARY RESOURCES AT DEPOSIT BANKS (in million dinars) END OF PERIOD VARIATION 2001 2002 2003 2003/2002 DESCRIPTION In MTD In % Monetary resources 4,902 4,644 4,903 259 5.6 -Residents’ sight deposits 3,921 3,668 3,897 229 6.2 -Non residents’ sight deposits 981 976 1,006 30 3.1 Quasi-monetary resources 9,568 10,542 11,480 938 8.9 Of which: -Forward deposits and other residents’ financial products 2,939 3,646 3,932 286 7.8 -Residents’ savings accounts 4,081 4,211 4,484 273 6.5 -Residents’ home savings accounts 647 794 870 76 9.6 -Residents’ certificates of deposit 838 664 668 4 0.6 -Bonds and resident borrowings with a duration of more than one year 289 377 353 -24 -6.4 -Forward deposits and other non residents’ financial products 284 321 356 35 10.9 TOTAL 14,470 15,186 16,383 1,197 7.9 Source : 2003 BCT Annual Report After dropping by 5.3% in 2002, monetary resources increased by 5.6% in 2003. This increase was caused in particular by the increase in resident sight deposits, up 6.2% after falling by 6.5% a year earlier. Non resident sight deposits also increased, although to a lesser degree : after falling by 0.5% in 2002, there were up 3.1% in 2003.
Quasi-monetary resources increased by 8.9% in 2003, vs. 10.2% in 2002. This slower pace of growth was the result of performance in all categories of resources except resident savings account deposits. Amounting to 4,484 MTD, this category of deposits increased by 6.5% vs. 3.2% a year earlier. Forward deposits, after increasing by 24.1% in 2002 under the impact of regulations governing the liquidity ratio, forward deposits and other resident financial products increased by 7.8% in 2003. With this slower rate of growth, the share of these deposits in total quasi-monetary resources decreased slightly, from 34.6% in 2002 to 34.3% in 2003.
After benefiting from the impact of new products launched in 2002, home savings deposits grew at a slower pace : 9.6% in 2003 vs. 22.7% in 2002. Despite this modest rate, the share of contractual savings grew from 7.5% in 2002 to 7.6% in 2003.
Resident certificates of deposit grew by a slight 0.6% after the previous year’s steep drop of 20.8%. This occurred following new subscriptions by businesses in both the private and public sectors.
Non resident forward deposits and other financial products were up 10.9% vs. 13.0% a year earlier. This trend was favored by bond issues launched by two banks on the external market.
On the other hand, because there were no new bond issues on the local capital market, the outstanding balance of bonds and resident borrowings with a duration of more than one year being down 6.4% vs. a major 20.8% increase a year earlier.
2- Special resources Constraints related to the clearing up of finances at a Tunisian bank caused a 9.3% reduction in special resources, following 2002’s 17.3% increase. Thus the share of this category of resources in total resources fell from 11.7% in 2002 to 10.0% in 2003.
Conditions at Deposit Banks Annual Report 2003 37 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
3- Available capital stock equity Faced with a number of impediments (notably clearing up of finances and development of their financial standing to meet both domestic and external competition), Tunisian banks had to boost capital stock equity. This amounted to a modest 1,515MTD in 2003, up just 0.9% after 2002’s strong 9.2% increase. This trend was mainly attributable to reserves (+ 50 MTD) and exceptional reserves (+ 44 MTD). The extent of this increase was limited by the slight drop in net freed capital in crossed holdings by deposit banks overall (-3 MTD) and maintaining of issue premiums at the same level as the year before : 278 MTD.
COVERAGE OF FIXED ASSETS AND NET DEPRECIATION NON VALUES BY BANKING CAPITAL STOCK EQUITY (in MTD unless otherwise indicated) PERIOD VARIATION DESCRIPTION 2001 2002 2003 2003/2002 In MDT In % 1- Capital stock equity (1) 1,796 1,941 1,987 46 2.4 of which : - freed capital 944 955 952 -3 -0.3 - issuing premiums 258 278 278 0 0 - reserves 577 690 740 50 7.2 2- Fixed assets and net depreciation non values (2) 422 440 472 32 7.3 - buildings and moveable assets 722 796 863 67 8.4 - non-values 22 14 16 2 14.3 - depreciation (deduction) -322 -370 -407 -37 -10.0 Net capital stock equity (1)-(2) 1,374 1,501 1,515 14 0.9 Ratio of fixed assets and net depreciation non values 2/1 (%)* 23.5 22.7 23.8 -0.8 +1.1
* Variation is given in percentage points Source : 2003 BCT Annual Report
Non value fixed assets net of depreciation were up 7.3% vs. 4.3% the year before. Given that this increase was higher than that of capital stock equity (2.4%), the ratio of coverage of fixed assets and non values net of depreciation by capital stock equity increased from 22.7% in 2002 to 23.8% in 2003, an increase of 1.1 of a percentage point, compared to a 0.8 percentage point decrease a year earlier.
4- Provisions Trends in doubtful and contested fixed asset claims have obliged relevant banks to increase provisions. Amounting to 1,444 MTD, these provisions increased by 27.3% in 2003 vs. 4.5% a year earlier.
5- Financing by the Central Bank of Tunisia Improved banking liquidity for a good part of 2003 and normal evolution of outflows led deposit banks to have less frequent recourse to refinancing by the Central Bank of Tunisia. In effect, the Issuing Institution refinanced just 435 MTD in 2003, a drop of 13.3% from the previous year’s level. Due to weak demand for refinancing, needs were covered mainly by calls for bids and sales with subsequent repurchase.
38 Annual Report 2003 Conditions at Deposit Banks Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
II- DEPOSIT BANK EXPLOITATION
Downward trends prevalent in 2002 for the main deposit bank intermediary operating balances continued into 2003, a result of the impact of conjunctural difficulties in a number of economic branches and drops in the average money market rate. Thus the interest margin was down 3.9% compared to the previous year’s lesser drop of 1.7%. This decrease resulted from proceeds from interest and similar income, down from 1,271.1 MTD in 2002 to 1,230.7 MTD in 2003, a drop of 40.4 MTD (-3.2%) vs. an increase of 31.9 MTD (2.3%) in 2002. This drop was caused by a lower growth rate in the outstanding balance of loans to the economy (4.2%) vs. 6.2% a year earlier and the constitution of bank charges required to cover the increase in hung up claims. The resulting impact of these factors and of the drop in the average money market rate put the loan yield down from 7.4% in 2002 to 6.8% in 2003.
DEPOSIT BANK EXPLOITATION (In million dinars) END OF PERIOD VARIATION 2001 2002 2003 2003/2002 DESCRIPTION In MTD In % (+) Interest and similar income 1,239.2 1,271.1 1,230.7 -40.4 -3.2 (-) Accrued interest and similar charges 657.5 699.4 681.4 -18.0 -2.6 (=) Interest margin 581.7 571.7 549.3 -22.4 -3.9 Net banking proceeds 941.2 945.1 926.6 -18.5 -2.0 Operating costs 465.2 503.4 524.9 21.5 4.3 1- Staff costs 335.8 360.3 382.2 21.9 6.1 2- General operating costs 129.4 143.1 142.7 -0.4 -0.3 Operating income 302.2 184.6 183.9 -0.7 -0.4 Net profits for the year 240.8 151.3 149.3 -2.0 -1.3 Source : 2003 BCT Annual Report
This opposing trend was accentuated by the slight reduction in accrued interest and similar charges (-18 MTD or -2.6%) due in particular to revaluing remuneration of deposits to further stabilize resources. But the drop in the interest margin was somewhat offset by increased net commissions on banking operations (+1.8% or 3.7 MTD) and net gains on the commercial securities portfolio and financial operations (1.7% or 2.1MTD). Because of the downward trend in the interest margin, slightly offset by the above-mentioned increases, net banking proceeds dropped 18.5 MTD or 2% after remaining virtually unchanged in 2002 at 945 MTD. But the operating coefficient worsened, moving from 53.3% to 56.6%. Operating income remained at a level similar to the previous year : 183.9 MTD and 184.6 MTD respectively. This was due in particular to the slight drop in general operating costs (-0.3%) in the wake of operating costs that grew at a slower pace (4.3% vs. 8.2% a year earlier) and to a reduction in allotments for provisions. This trend in deposit bank indicators led to a slight 2 MTD drop in net income for the year, down from 151.3 MTD in 2002 to 149.3 MTD in 2003. Return On Equity (ROE) dipped from 8% in 2002 to 7.6% in 2003 and Return On (banking) Assets (ROA) from 0.7% to 0.6%.
Conditions at Deposit Banks Annual Report 2003 39 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
TRENDS IN A NUMBER OF INDICATORS REGARDING DEPOSIT BANK ACTIVITY (In %) Description 2001 2002 2003 Average ratio for coverage of risk 10.6 9.8 9.1 Share of filed claims in total commitments 19.2 20.9 23.9 Share of filed claims net of provisions and reserved bank charges in total 11.1 12.9 15.2 commitments Rate of coverage of filed claims by provisions and reserved bank charges 47.4 43.9 42.9
Source : 2003 BCT Annual Report
Because of faster growth in incurred banking risk, the average ratio of risk coverage dropped from 9.8% in 2002 to 9.1% in 2003. The quality of the portfolio showed an increased share for filed claims in total deposit bank commitments, up from 20.9% in 2002 to 23.9% in 2003. The share of coverage for this category of claims by reserved provisions and bank charges amounted to 42.9% vs. 43.9% in 2002. If provisions and reserved bank charges are excluded, the share of these claims is about 15.2%.
40 Annual Report 2003 Conditions at Deposit Banks CONDITIONS AT DEVELOPMENT BANKS Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
CONDITIONS AT DEVELOPMENT BANKS
In the context of procedures governing the transformation of development banks into all-purpose banks, priority was given to clearing up finances. The resulting impact along with that of the conjunctural difficulties prevailing in certain branches of the economy led to slower growth in banking activity, causing in turn a deterioration of their main operating indicators. In effect, approvals fell by 25.4% in 2003, commitments by 25.3%, and disbursements by 27.3%.
I- USES AND RESOURCES While the number of bank interventions remained unchanged from 2002 to 2003, there was a drop in the volume of both resources and uses. DEVELOPMENT BANK USES AND RESOURCES (in million dinars) END OF PERIOD VARIATION 2001 2002 2003 2003/2002 DESCRIPTION In MTD In % Financing of the economy 1,114 932 901 -31 -3.3 -Loans to the economy 867 730 727 -3 -0.4 -Securities portfolio 247 202 174 -28 -13.9 Claims on the State 58 80 80 0 0
Total uses = Total resources 1,172 1,012 981 -31 -3.1
Capital stock equity 646 660 510 -150 -22.7 of which : - Reserves 204 219 111 -108 -49.3 Provisions 182 141 60 -81 -57.4 Domestic borrowings 137 131 143 12 9.2 -Bonds and borrowings with a duration of more than 52 65 53 -12 -18.5 one year -Net banking borrowings 85 66 90 24 36.4 Special resources 115 116 122 6 5.2 of which : external loan funds 115 116 122 6 5.2 Other net resources 92 -36 146 182 505.6 Source : 2003 BCT Annual Report
A-Uses Development bank uses amounted to 981 MTD, down 3.1% vs. a steeper reduction (-13.7%) in 2002. This decrease characterized all components : financing of the economy and claims on the State. Financing of the economy by development banks amounted to 901 MTD, a drop of 3.3%. This was not as steep as the previous year’s decrease and it was generated by the writing off of hung up claims as part of the clearing up of finances at four banks. An analysis of trends in this kind of financing shows that : © All sectors experienced reduced financing, but especially agriculture (-19.5% vs. -64% in 2002) and industry (-3.8% vs. -21.1% in 2002); © Loans to the economy showed only a very small drop of 3 MTD (0.4%) compared to a steep drop of 15.8% a year earlier;
42 Annual Report 2003 Conditions at Development Banks Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
© Most loans were medium or long term, up from a 72% share in 2002 to 76% in 2003; © The outstanding balance of the securities portfolio dropped for the third year in a row (by 18.2% in 2002 and by 13.9% in 2003), with the 2003 decrease due mainly to the sale of securities held by two banks to closed-end mutual investment funds for an overall total of 26 MTD. The outstanding balance of claims on the State stabilized at the same 80 MTD level as in 2002, held back by the absence of new subscriptions by development banks to Treasury bonds. Claims held by the State are limited to those generated by State assumption of claims held against the National Tourist Board.
B- Resources Capital stock equity amounted to 510 MTD, down 150 MTD (22.7%), compared to a 14 MTD (2.2%) increase in 2002. This drop was generated by a 108 MTD reduction in reserves as well as a 40 MTD drop in the social capital of a Tunisian bank. The reduction in this bank’s social capital was a result of efforts to clear up its portfolio and absorb losses suffered and noted. There followed in December 2003 a 20 MTD increase in the bank’s capital, 10 MTD of which were not yet freed, subscribed to by non residents.
Constituted provisions were down 81 MTD. This steep drop was due to sale of hung up claims to collection companies for 66 MTD vs. 349.7 MTD a year earlier. Transactions to write off these claims amounted to 18.7 MTD. The outstanding balance of domestic borrowings increased from 131 MTD in 2002 to 143 MTD in 2003. This increase was due solely to net borrowings contracted at deposit banks. The relevant outstanding balance increased by 24 MTD. The outstanding balance of bonds and borrowings with a duration of more than one year amounted to 53 MTD, a drop of 12 MTD (18.5%) compared to the previous year’s level. This decrease was the result of repayment of amounts due that were not followed by new bond issues.
The outstanding balance of external borrowings rose by 6 MTD in the wake of drawings by a development bank on European Investment Bank credit lines available to tourism-related businesses.
II- DEVELOPMENT BANK EXPLOITATION
Given the constraints imposed by the initiative to clear up finances and the impact of adverse conditions on the economy, development bank activity decreased for the third straight year, with all relevant indicators down. Affected by a 4.8 MTD drop in interest and similar income and by the 1.5 MTD increase in accrued interest and bank charges, development banks’ interest margin fell from 39.5 MTD in 2002 to 33.2 MTD in 2003, a drop of 6.3 MTD or 15.9%. This trend was due mainly to the drop in the average money market rate and the lower outstanding balance of loans granted by development banks.
Conditions at Development Banks Annual Report 2003 43 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
DEVELOPMENT BANK OPERATING INDICATORS (in million dinars) END OF PERIOD VARIATION 2001 2002 2003 2003/2002 DESCRIPTION In MTD In % (+) Interest and similar income 67.7 59.7 54.9 -4.8 -8.0
(-) Accrued interest and similar charges 16.7 20.2 21.7 1.5 7.4
(=) Interest margin 51.0 39.5 33.2 -6.3 -15.9 Net banking proceeds 62.8 48.9 41.8 -7.1 -14.5 Operating costs 17.1 18.1 18.7 0.6 3.3 * Staff costs 11.9 12.6 13.1 0.5 4.0 * General operating costs 5.2 5.5 5.6 0.1 1.8
Operating income 27.9 -147.7 -36.8 +110.9 75.1
Net profits for the year 24.4 -148.0 -36.9 +111.1 75.1
Source : 2003 BCT Annual Report
Along with a lower interest margin there was a 0.9 MTD drop in investment portfolio income, putting the net banking product down from 48.9 MTD in 2002 to 41.8 MTD in 2003, a drop of 7.1 MTD or -14.5%. This downward trend for net banking product and ongoing increases in operating costs and higher volume led to a 7.7 percentage point change in the operating coefficient, which moved from 37% to 44.7%. The high level of operating costs and that of allotments to provisions caused a deficit in operating income that amounted to -36.8 MTD in 2003, a lower deficit than the previous year’s -147.7 MTD figure. But despite these negative results for the second year in a row, development banks : © Improved the quality of their portfolio by bringing down the share of filed assets in total commitments from 30.5% in 2002 to 28% in 2003, an improvement that took place following the successful completion of financial restructuring at one bank; and © Kept up a high level for the ratio of risk coverage : 51.9% vs. 54.6% in 2002, the regulatory ratio in effect being 8%.
44 Annual Report 2003 Conditions at Development Banks CONDITIONS AT FINANCIAL INSTITUTIONS CONDITIONS AT LEASING COMPANIES Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
CONDITIONS AT LEASING COMPANIES
There remained 11 leasing companies, serving a diverse clientele made up of small and medium size companies as well as craftsmen and professionals of limited financial means and without sufficient guarantees. Leasing companies being particularly exposed to passing adverse conditions, their performance (like that of deposit and development banks) was down.
I- USES AND RESOURCES While leasing companies continued to make a significant contribution to the economy, activity was down in 2003, with a penetration rate of 9.9% vs. 11.3% in 2002. This drop was a result of the 7.6% decrease in disbursements, down for the second straight year, also affecting real estate leasing. This drop seems to be the result of coverage of needs already expressed by conventional activities, notably in transport and office equipment. Furthermore, market data shows that the cycle to replace vehicles is on average every four to five years. In line with these trends, the outstanding balance of leases grew at a slower pace : 2.5% vs. 7.5% a year earlier. Financing for these companies came from capital stock equity and loan money.
TRENDS IN THE MAIN INDICATORS RELATING TO LEASING COMPANY ACTIVITY (in MTD) VARIATION DESCRIPTION 2001 2002 2003 2003/2002 In MTD In % ACTIVITY -Disbursements 499.6 462.3 427.0 -35.3 -7.6 of which : real estate 58.2 72.1 68.0 -4.1 -5.7 -Penetration rate % (1) 12.0 11.3 9.9 - -1.4 Uses and resources Outstanding balance of leasing 981.8 1,055.0 1,081.0 +26 +2.5 Capital stock equity 154.7 161.5 161.0 -0.5 -0.3 Borrowed resources 724.2 802.5 832.3 +29.8 +3.7 of which : Share of banking resources in% (1) 35.1 33.7 27.1 - -6.6 Share of bond resources in% (1) 47.4 45.8 42.2 - -3.6 Share of external resources in% (1) 8.8 7.5 16.1 - +8.6 Exploitation (+) Proceeds on leasing transactions 446.9 484.3 483.8 -0.5 -0.1 (-) Allotments for depreciation of fixed assets being leased 346.9 379.9 381.0 1.1 0.3 (=) Gross margin 100.0 104.4 102.8 -1.6 -1.5 of which : (-)net financial charges 51.6 58.5 60.2 1.7 2.9 (=) Interest margin 48.4 45.9 42.6 -3.3 -7.2 Net proceeds 51.2 49.1 46.3 -2.8 -5.7 of which: -operating costs 14.4 16.0 17.2 1.2 7.5 -net allotments to provisions 10.6 16.6 15.9 -0.7 -4.2 Operating income 24.5 14.5 10.8 -3.7 -25.5 Net profits for the year 18.6 9.7 8.6 -1.1 -11.3 (1) Variations are expressed in percentage points Source : 2003 BCT Annual Report
Conditions at Leasing Companies Annual Report 2003 47 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
Capital stock equity amounted to 161.0 MTD, very near the previous year’s level of 161.5 MTD. Resources from borrowings were up 29.8 MTD (3.7%), less than the previous year’s 10.2% increase. The major component making up these resources was bonds, which despite a drop for the second straight year posted a respectable 42.2% share (vs. 45.8% in 2002). The share of banking resources in total resources remained the second most important component in borrowed resources, but they were down 6.6 percentage points, from 33.7% in 2002 to 27.1% in 2003. The decrease for these two categories of resources was offset by the increase in external resources, the share of which rose from 7.5% in 2002 to 16.1% in 2003. This occurred following access by a number of companies to external borrowing mobilized in euros by the State on the international financial market.
II- LEASING COMPANY EXPLOITATION
Given the weak advances in leasing company activity, operating indicators were down for the second straight year. The gross margin amounted to 102.8 MTD, meaning a yield for leasing that slipped from 10.2% in 2002 to 9.7% in 2003. These trends resulted from the drop in disbursements, the volume of unpaid bills, and the drop in financing conditions made necessary by competition. The predominance of resources from borrowings in total resources (83.8%) continued to keep costs for mobilizing resources high, meaning a 2.9% increase in net financial charges for leasing companies and an ensuing drop in the interest margin, down 7.2% from 45.9 MTD to 42.6 MTD. Consequently, despite a slight increase in investment products, leasing companies’ net product amounted to 46.3 MTD vs. 49.1 MTD in 2002, a drop of 2.8 MTD or 5.7%. With the significant increase in operating costs (1.2 MTD or 7.5%) resulting from high staff costs and the substantial level of net allotments to provisions, operating income fell from 14.5 MTD to 10.8 MTD, down 25.5%. The operating coefficient was also down, from 32.6% in 2002 to 37.9% in 2003. As a result of the drop in the evolution of activity factors, net income for the year for leasing companies fell by 1.1 MTD, to 8.6 MTD in 2003, causing a drop in profitability indicators. In effect, ROA came in at 0.8% (vs. 1.9% in 2001) and ROE was 5.6% (vs. 13.7% in 2001). But despite the importance of the filed portfolio, the share of which amounted to 24.7% in 2003, leasing companies comply with overall prudential ratios : the solvency ratio was 16.4%, the same as the year before, also due to building up of reserves, and the coverage rate of filed claims increased from 34.7% to 40.6%.
(In %)
YEAR (1) 2001 2002 2003 VARIATION DESCRIPTION 2003/2002 Share of filed claims 19.3 24.1 24.7 +0.6 Share of net filed claims for provisions and reserved margins 13.0 17.1 16.3 -0.8 Rate of coverage for filed claims 37.2 34.7 40.6 +5.9 Solvency ratio 16.0 16.4 16.4 - (1) Variations are given in percentage points Source : 2003 BCT Annual Report
48 Annual Report 2003 Conditions at Leasing Companies CONDITIONS AT FACTORING COMPANIES Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
CONDITIONS AT FACTORING COMPANIES
Factoring companies evolved in line with overall economic conditions and banking activity. Its contribution to financing of the economy and management of commercial claims grew in 2003. There are two factoring companies and a specialized department within one of these two establishments. The volume of purchased invoices amounted to 233.2 MTD, an increase of 18.1 MTD or 8.4% compared to higher (18.5%) growth the year before. While domestic factoring continued to dominate, the outstanding balance of financing grew at about the same pace as the previous year : 3.9 MTD. Factoring companies served 274 members for 15,471 buyers, compared to 185 members and 12,801 buyers in 2002. (In million dinars) PERIOD VARIATION DESCRIPTION 2001 2002 2003 2003/2002 In MTD In %
Volume of purchased invoices 181.5 215.1 233.2 18.1 8.4 Outstanding balance of financing 54.7 58.1 62.0 3.9 6.7 Capital stock equity 12.2 13.0 14.4 1.4 10.8 Borrowed resources 45.8 51.2 58.2 7.0 13.7 Of which : - Banking loans Short term (in %)(1) na 33.4 52.1 na 18.7 - Treasury bills (in %) (1) 55.0 43.1 26.4 na -16.7 - Bond resources (in %) (1) - 13.7 9.6 na -4.1 (1) variation in percentage points na: not available Source : 2003 BCT Annual Report
Uses at factoring companies were mainly covered by resources from borrowings which amounted to 58.2 MTD in 2003, up 13.7% vs. 11.8% a year earlier. This category of resources is made up mainly of short term borrowings from banks and by Treasury bills, with shares in total resources from borrowings of 52.1% and 26.4% respectively vs. 33.4% and 43.1% the year before. Capital stock equity amounted to 14.4 MTD, a 10.8% increase vs. 5.7% in 2002. Factoring company activity was up a slight 0.2 MTD over the previous year. At 8.1 MTD, this income was generated by financing (66.4%) and factoring (33.6%) commissions. Under the influence of the drop in financial costs caused by the reduction in the average money market rate, the interest margin remained stable at the previous year’s 2.6 MTD level. And the significant increase in factoring commissions put the net factoring product up from 5 MTD in 2002 to 5.4 MTD in 2003.
50 Annual Report 2003 Conditions at Factoring Companies Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
(In million dinars) PERIOD VARIATION 2001 2002 2003 2003/2002 DESCRIPTION In MTD In %
Income from factoring transactions 5.9 8.0 8.1 0.1 1.3 Financing commissions 4.0 5.5 5.4 -0.1 -1.8 Financial charges 2.0 2.9 2.8 -0.1 -3.4 Interest margin 2.0 2.6 2.6 - - Factoring commissions 1.9 2.4 2.7 0.3 12.5 Net factoring proceeds 3.9 5.0 5.4 0.4 8.0 Operating costs 1.3 1.6 2.0 0.4 25.0 Staff costs 0.6 0.9 1.1 0.2 22.2 General operating costs 0.7 0.7 0.9 0.2 28.6
Net income for the year 1.1 1.2 1.3 0.1 8.3
Source : 2003 BCT Annual Report
The increase in operating costs that resulted in particular from higher staff costs affected operating income, which came in at 2 MTD for 2003, an increase of 0.3 MTD or 17.6% over the previous year. This increase meant net income for the year of 1.3 MTD vs. 1.2 MTD a year earlier. Capital stock equity profitability and asset yield rose to 10.0% and 1.9% respectively, vs. 9.6% and 1.8% in 2002. Finances at factoring companies are satisfactory, with the share of filed claims down just slightly from 8.7% in 2002 to 7.6% in 2003. The claim coverage rate however improved by 3.7 percentage points over the previous year and the solvency ratio was up from 20.2% in 2002 to 20.4% in 2003.
PERIOD VARIATION 2002 2003 DESCRIPTION 2003/2002
Share of filed claims (%) 7.6 8.7 +1.1 Rate of coverage of filed claims (%) 45.5 49.2 +3.7 Solvency ratio (%) 20.2 20.4 +0.2
Conditions at Factoring Companies Annual Report 2003 51 V
ACTIVITY REPORT 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
ACTIVITY REPORT 2003
In the framework of its development strategy and in line with established orientations (especially pursuant to the opening of the Association in 2002 to financial institutions), APTBEF intensified its joint activities in 2003 and diversified its interventions at both the national and international level. The Association, speaking for the sector, asserted its presence and highlighted the profession’s contribution to the country’s economic development. On another front, ongoing activities such as training, gathering/elaboration/dissemination of statistics, and participation or leadership in several committees and working groups have not only continued but grown.
I- ACTIVITIES OF THE BOARD
APTBEF’s board is made up of 12 members: 8 banking representatives and 4 financial institution representatives.
The Board members are : n Bank of Tunisia (Chairman) n Bank of the South n Bank for Housing (Vice Chairman) n Tuniso-Qatari Investment Bank n Tunisian Banking Company n Arab Tunisian Lease (Vice Chairman) n National Agricultural Bank n Tunisia Leasing n Arab International Bank of Tunisia n International Leasing Company n Tuniso-Saudi Investment n Unifactor and Development Company
At the three meetings held in 2003, the Council deliberated on a number of issues, notably : n training n enhanced savings n electronic banking n electronic clearing n telecommunications n electronic commerce n transport of funds n helping companies in difficulty n bank insurance
APTBEF representation The Board has designated: n Mr. Aissa HIDOUSSI, President Director General of the Bank for Housing as the Association’s representative on the Board of the Maghreb Banking Union (UBM).
Activity Report 2003 Annual Report 2003 53 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
II- STATISTICS CONCERNING DEVELOPMENT BANK FINANCING
The negative trends in approvals, commitments and disbursements recorded in 2002 continued in 2003, showing the following drops : TRENDS IN APPROVALS, COMMITMENTS AND DISBURSEMENTS (In million dinars) END OF PERIOD VARIATION 2000 2001 2002 2003 In MTD In % DESCRIPTION 2002 2003 2002 2003 APPROVALS 2,175.9 1,983.7 1,606.5 1,350.7 -377.2 -255.8 -19.0 -15.9 COMMITMENTS 1,768.1 1,784.4 1,456.7 1,299.7 -327.7 -157.0 -18.4 -10.8 DISBURSEMENTS 1,649.6 1,865.6 1,793.2 1,286.4 -72.4 -506.8 -3.9 -28.3 Source : Quarterly Bank statistics
TRENDS IN APPROVALS, COMMITMENTS AND DISBURSEMENTS IN 2000, 2001, 2002 & 2003 2500.0
2000.0
2000 1500.0 2001 2002 2003 1000.0
500.0
0.0 2000 2001 2002 2003 2000 2001 2002 2003 2000 2001 2002 2003 APPROVALS COMMITMENTS DISBURSEMENTS
The drop in approvals was slightly less than in 2002.
54 Annual Report 2003 Activity Report 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
APPROVALS (PARTICIPATION AND LOANS) (In million dinars) VARIATION In MTD In % DESCRIPTION 2000 2001 2002 2003 2002 2003 2002 2003 INDUSTRY 437.2 477.6 330.9 397.5 -146.7 66.6 -30.7 20.1 AGRICULTURE 85.1 64.9 55.7 55.0 -9.2 -0.7 -14.2 -1.3 TOURISM 547.5 407.2 250.8 201.3 -156.4 -49.5 -38.4 -19.7 REAL ESTATE 651.3 665.0 653.7 446.1 -11.3 -207.6 -1.7 -31.8 SERVICES 454.8 369.0 315.4 250.8 -53.6 -64.6 -14.5 -20.5 TOTAL 2,175.9 1,983.7 1,606.5 1,350.7 -377.2 -255.8 -19.0 -15.9
Year 2000 Year 2001 Year 2002
INDUSTRY INDUSTRY INDUSTRY AGRICULTURE AGRICULTURE AGRICULTURE TOURISM TOURISM TOURISM REAL ESTATE REAL ESTATE REAL ESTATE SERVICES SERVICES SERVICES
Year 2003
INDUSTRY
AGRICULTURE
TOURISM
REAL ESTATE
SERVICES
Commitments dropped by just 10.8% in 2003, vs. 18.4% a year earlier, due mainly to trends in banking commitments to tourism.
COMMITMENTS (In million dinars) VARIATION In MTD In % DESCRIPTION 2000 2001 2002 2003 2002 2003 2002 2003 INDUSTRY 320.6 369.1 284.5 339.9 -84.6 55.4 -22.9 19.5 AGRICULTURE 80.4 59.2 53.9 52.5 -5.3 -1.4 -9.0 -2.6 TOURISM 403.5 388.1 218.4 189.5 -169.7 -28.9 -43.7 -13.2 REAL ESTATE 642.2 651.7 634.4 455.2 -17.3 -179.2 -2.6 -28.2 SERVICES 321.4 316.3 265.5 262.6 -50.8 -2.9 -16.1 -1.1 TOTAL 1,768.1 1,784.4 1,456.7 1,299.7 -327.7 -157.0 -18.4 -10.8
Activity Report 2003 Annual Report 2003 55 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
Year 2000 Year 2001 Year 2002
INDUSTRY INDUSTRY INDUSTRY AGRICULTURE AGRICULTURE AGRICULTURE TOURISM TOURISM TOURISM REAL ESTATE REAL ESTATE REAL ESTATE SERVICES SERVICES SERVICES
Year 2003
INDUSTRY
AGRICULTURE
TOURISM
REAL ESTATE SERVICES
Trends in banking disbursements were influenced by drops in tourism and real estate.
DISBURSEMENTS (In million dinars) VARIATION In MTD In % DESCRIPTION 2000 2001 2002 2003 2002 2003 2002 2003 INDUSTRY 342.9 343.7 355.1 326.8 11.4 -28.3 3.3 -8.0 AGRICULTURE 67.7 56.9 56.7 49.1 -0.2 -7.6 -0.4 -13.4 TOURISM 259.9 408.6 362.1 210.0 -46.5 -152.1 -11.4 -42.0 REAL ESTATE 587.6 646.2 657.6 438.3 11.4 -219.3 1.8 -33.3 SERVICES 391.5 410.2 361.7 262.2 -48.5 -99.5 -11.8 -27.5 TOTAL 1,649.6 1,865.6 1,793.2 1,286.4 -72.4 -506.8 -3.9 -28.3
Year 2000 Year 2001 Year 2002
INDUSTRY INDUSTRY INDUSTRY AGRICULTURE AGRICULTURE AGRICULTURE TOURISM TOURISM TOURISM REAL ESTATE REAL ESTATE REAL ESTATE SERVICES SERVICES SERVICES
Year 2003
INDUSTRY
AGRICULTURE TOURISM
REAL ESTATE SERVICES
56 Annual Report 2003 Activity Report 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
RELATIONS WITH PUBLIC AUTHORITIES
The Association is the main consultative body grouping financial institutions and public authorities. It has actively participated in the formulation of various projects and the shaping of decisions involving, either directly or indirectly, the banking sector and loan institutions.
CENTRAL BANK OF TUNISIA In close cooperation with the Central Bank of Tunisia, the Professional Association has participated : • In the study of a draft framework agreement that defines the role of the lead bank and that of the members of a banking pool; • In the work of the steering committee on electronic clearing; • In the work of the steering committee on the development of electronic banking; • In meetings of the discussion group on the current status of transport of funds in Tunisia; • In the seminar on «foreign exchange and foreign trade regulations in Tunisia»; • In action to promote savings (application of the terms of the circular concerning special savings accounts); • In the work of the committee in charge of establishing bank insurance; • In the study of the project relating to the permanent internal audit committee; • In efforts to help companies suffering from economic setbacks; • In the seminar on the system for transferring large amounts of money.
MINISTRY OF FINANCE There were several areas of cooperation with this department, notably : • Participation in meetings of the technical committee studying the proposed framework agreement that will govern handling of insurance products by banks; • Participation in drafting of the annual development report that deals with progress in implementing the Xth Plan and prospects for future implementation; • Organization of a seminar on the stipulations of the 2003 national budget; • Participation in meetings on a standardized letter of exchange; • Participation in preparatory meetings to discuss the proposal to set up a «one stop shop» to process loans granted to clients; • Participation in meetings on «expansion of interventions by the system that guarantees loans to small businesses for leasing operations»; • Drawing up of the list of specialized rating agencies, as per article 40 of the code governing mutual investment companies; • The work of the sub commission on «corporate financial structure», in the framework of monitoring of the Xth Plan (2002-2006) ; • Tax system for savings accounts.
MINISTRY OF TOURISM, TRADE AND HANDICRAFTS The APTBEF was present at all events relating to the profession or initiatives it was involved in or invited to participate in, notably : • The work of «the foreign trade and economic/commercial cooperation» sub commission; • A workshop on «logistics and development of foreign trade»; • Monitoring of the 10th plan; • Preparatory work on the programme to promote exports (2nd phase);
Activity Report 2003 Annual Report 2003 57 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
• The seminar organized by the Tunis Chamber of Commerce and Industry on «Spanish lines of credit for Tunisia»; • The 21st meeting of the FAMEX (fund to access foreign markets) Club on the theme : ways and means to make international payments; • The 22nd meeting of the FAMEX Club on the theme : «methodology to prepare for international negotiations»; • The 23rd meeting of the FAMEX Club concerning «client satisfaction and reduction of international costs»; • Monitoring of the programme to promote exports, entitled «facilitating foreign trade and further development of the initiative to set up a single bundle»; • The 26th meeting of the FAMEX Club on «export issues for small/medium businesses : expectations and functioning of central purchasing group»; • The training day on «the single bundle»; • The seminar on computer safety, in partnership with Tunisian Trade Net (TTN).
MINISTRY OF JUSTICE AND HUMAN RIGHTS • Participation in the meeting on judicial decisions regarding garnishment ; • Participation in implementation of legislative reform to help companies in trouble.
MINISTRY OF DEVELOPMENT AND INTERNATIONAL COOPERATION • Participation in the Tuniso-Italian round table on «the links between foreign direct investment and the growth of small/medium businesses» organized jointly by the United Nations Industrial Development Programme (UNIDO), the Foreign Investment Promotion Agency (FIPA) and the Industrial Promotion Agency (API) ; • Collaboration with the French Development Agency (AFD) on «corporate upgrading and financing of small/medium businesses» ; • Participation in the work of the technical group concerning «promotion of foreign direct investment in Tunisia» ; • Participation in the Tuniso-Italian partnership meeting held during a visit by companies from the Marches region ; • Participation in the seminar on the economic and financial analysis of cultural projects, organized in collaboration with the Inter-Governmental Agency of French-Speaking Countries (AIF) and the Tunisian Technical Cooperation Agency (ATCT).
MINISTRY OF INDUSTRY AND ENERGY • Organization of a day event of awareness building and information dissemination on use of the new letter of exchange form, in cooperation with UTICA ; • Participation in steering committee (COPIL) meetings ; • Participation in meetings of the technical commission working on adoption of International Payment Instructions (IPI) norm.
MINISTRY OF COMMUNICATION AND TRANSPORT TECHNOLOGIES • Participation in meetings on the affiliation of Tunisie Telecom in payment by electronic card ; • Participation in meetings on the safety of electronic payments.
MINISTRY OF CULTURE, YOUTH AND LEISURE • Organization of a training seminar on economic and financial analysis of cultural projects, in collaboration with the Inter-Governmental Agency of French-Speaking Countries (AIF).
58 Annual Report 2003 Activity Report 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
OTHER ACTIVITIES
I- LABOR/MANAGEMENT CONCERNS
In line with decisions made by labor and management, a technical committee was formed and began work in April 2003 on : • Updating of the text of the agreement ; • A proposal to separate rank and function.
II- TECHNICAL GROUPS
These technical groups have been working on : • Banking conditions and institution of new commissions; • Development of electronic banking; • Implementation of the interbank information system (SIIB); • The framework agreement concerning bank handling of insurance products; • Setting up of a one-stop shop to process loans granted to clients; • Affiliation of Tunisia Telecom in payment by electronic card; • Application of the new circular addressed to banks concerning special savings accounts.
III- INTERBANK MEETINGS
Several meetings and working sessions were held at the Association’s headquarters. Efforts involved : • Study of the draft decree on conditions for opening and monitoring investment savings accounts; • Study of the draft framework agreement concerning handling of insurance products by banks; • Study of action to be taken to distribute the letter of exchange that has become standard nationwide; • Study of a proposal to generalize a new practice relating to a non standardized letter of exchange and handling of old bills; • Study of a proposal to set up a one-stop shop to process loans granted to clients; • Study of draft specifications concerning the setting up of the interbank information system (SIIB); •Study and adoption of the statute for the mechanism that will monitor the safety of banking and financial institution information systems; • The problem of capturing the number of the letter of exchange in corporate files and data exchange; • Distribution of the standardized letter of exchange; • Study of the stipulations of article 189A of the commercial law governing businesses pledged as collateral; • Facilitation of the export promotion programme; • Discussion of the programme to adopt smart cards; • Special savings accounts; • Transport of funds; • Improvement of electronic banking statistical statements; • Study of the draft framework agreement defining the role of the lead bank and that of members of a banking pool; • Standardization of the promissory note with representatives of leasing companies;
Activity Report 2003 Annual Report 2003 59 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
• Cooperation with the French Development Agency (AFD) concerning corporate upgrading and financing of small/medium businesses; • Application of the norm relating to bank and postal deductions on the electronic declaration of value added tax and other levies due; • Terms and conditions applicable to foreign correspondents and the procedure for clearing checks in foreign currency; • Study of the draft framework agreement relating to purchase transactions that include a commitment to sell back stocks and drafts.
IV- INTERMAGHREB PARTNERSHIP
• Participation in the Maghreb Banking Union board meeting. • Participation in the work of the training and human resources commission of the Maghreb Banking Union (UBM) Algiers. • Participation in the meeting of UBM Secretary Generals.
V- INTERNATIONAL COOPERATION
• Participation in the 12th congress of training and human resource officials, organized by the Arab Academy of Banking and Financial Sciences (AABFS) in Cairo ; • Participation in the seminar on capital risk, organized by the Institute of Higher Commercial Studies (IHEC) Alumni Association ; • Participation in the seminar on «all-purpose banks», organized in cooperation with the Arab Banking Union (UBA).
60 Annual Report 2003 Activity Report 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
VOCATIONAL TRAINING
A- TRAINING THAT CONFERS A DIPLOMA a- Medium-term cycle at the CPFB
1. THE FORMER SYSTEM 51 people participated in CPFB courses during the 2002-2003 academic year, compared to 119 the year before. This was because of the phasing out of the old system, in effect for the last time with the B4 class that took final exams in July 2003, leading to the Banking Training Diploma. The success rate was higher than in July 2000, 2001 and 2002, increasing from 32.29% in 2000 to 55.70% in 2003. TRENDS IN THE SUCCESS RATE FOR THE CPFB DIPLOMA (1999/2003) YEAR 1999 2000 2001 2002 2003 SUCCESS RATE (%) 32.29 32.29 51.96 49.35 55.70
SUCCESS RATE
60
50
40
30
20
10
0 1999 2000 2001 2002 2003
2. THE NEW SYSTEM
2-1. The third class The third class registered for the medium-term cycle at the Professional Center for Banking Training – CPFB - began with the subjects of the first year of the common curriculum on 2 January 2003. There were 115 people in this class, 24% less than the second class that started in January 2002. The first semester of studies for this third class ran from January to June 2003 and the second semester from September 2003 to January 2004.
2-2. The second class Qualifying exams for both first and second year of the common curriculum for the second class (January 2002) took place in February 2003. 72 candidates were accepted into the second year of studies, which began in April 2003.
Activity Report 2003 Annual Report 2003 61 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
2-3. The first class The 111 candidates in this first class (which began studies in January 2001) took the written exams required to advance from the second year of the common curriculum to the third year of specialized training. 75 candidates passed but only 60 were accepted, after oral exams, to go on to the third year of the medium-term cycle at the CPFB, the final year of which is devoted to training for specialized jobs.
2-4. Competitive exam to follow courses at CPFB 74 people took the entrance exam in June 2003 for acceptance in the first year of the common curriculum. The resulting group was the fourth entering class at CPFB, for whom the start of studies was set for 2 January 2004. 25 candidates passed the written exam and 22 were definitively admitted after oral exams. This compares to 31 for the previous group, with the process becoming more selective so as to maximize the chances for these candidates, who do not hold a degree, to succeed in earning a specialized banking training diploma. It should be kept in mind that candidates in the fore-mentioned selection process are encouraged to follow a preparatory programme during the academic year, temporarily run by the CPFB to cover banking techniques, accounting, languages (Arabic and French), math pertaining to finance, law and general economy.
2-5. Introduction of training for specialized jobs In the framework of programmes financed by the European Union to upgrade the Tunisian financial sector, a technical assistance project at CPFB has been approved. This project will help officials at CPFB to develop a training curriculum for specialized jobs, to be dispensed as the third year of medium-term training at the Centre. The project provides assistance on the organizational, logistic, pedagogical and other fronts. A European expert has been hired.
Two branches of training for specialized jobs have been set up : © Front Office jobs : These functions concern and require direct contact between bank employees and clients. One job has been identified for third year specialized training starting January 2004 : officer in charge of multi market customers. In effect, the profession is not yet able to provide specialized staff for customers in each market segment : private parties, professional customers, and business clients, although this may be the case over the short or medium term. In due course, other specialized Front Office jobs may merit targeted training : bank insurance customer service officer, portfolio manager …
© Middle Office jobs: These functions involve the interplay between salesmen and bank operators, some aspects of which are commercial and others administrative. The first job to be identified for third year specialized training starting January 2004 : financing/commitments/collection. In effect, needs for training in two areas emerged clearly : loan officers and agents/negotiators in charge of collecting claims. This inspired the idea of specialized training in the loan process, from review of the application to (at best) a decision to grant financing or (less good) a decision to launch collection action before moving on to final litigation. At a future date, other Middle Office jobs such as commercial support could be the focus of specialized training.
Specialized job training takes place over two semesters in the third year of studies, after students have taken four semesters of common curriculum courses and passed the relevant exams. Each semester lasts five months : 20 weeks of teaching made up of five 90 minute sessions a week. A one month internship is set up at a company between the two semesters. The five training modules are weighted differently, the order being determined by pedagogical considerations, making up this two semester programme targeting specialized jobs. The three banking market segments will be addressed separately, in so far as the subject allows; alternately, they will be taught together. The relevant modules are :
62 Annual Report 2003 Activity Report 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
© Banking techniques; © Risk, surveillance and collection; © Intermediation; © Behaviour; © Language.
With two specialized job training courses under way, some needs are being met, while others still need to be met. There is strong demand, for example, for short term training for two new specialized jobs ; © Back Office : international relations (foreign trade transactions) and cash flow operations; © Front Office : banks that offer insurance.
Other specialized job training will be implemented over the medium term : © Front Office : professional customer service officer and business customer service officer ; © Middle Office : internal audit, inspection.
First semester training for the first class (which began in January 2001) started on 19 January 2004.
Activity Report 2003 Annual Report 2003 63 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
b - Upper cycle : Technical Banking Institute (ITB) There were 540 people participating in the ITB’s training cycle (new and old systems) for the 2002-2003 academic year, 3.74% less than in 2001-2002. TRENDS IN THE NUMBER OF STUDENTS REGISTERED FOR ITB COURSES (2000/2003) YEAR 2000 2001 2002 2003 REGISTERED 453 481 561 540
TOTAL REGISTERED
600
400
200
0 2000 2001 2002 2003 ITB’s new system was first implemented in 2001-2002. The curriculum is spread over two years, based on a system of continuous assessment and targeted training aligned to each market segment : private parties, professional customers and business clients. The classes studying over the period 2001-2003 posted the following results :
First Year
Year Registered Promoted to Excluded 2nd year 2001/2002 256 208 48 2002/2003 215 177 38
Second Year
Year Registered Graduates Did not pass Excluded
2001/2002 174 65 93 16
Of the 208 candidates in the 2002-2003 class going on to second year, only 174 matriculated anew, while the 34 others opted to take a break in their studies, planning to continue at a future date. This option is provided for in ITB regulations for a period of five years.
64 Annual Report 2003 Activity Report 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
Thus the first class under the new system has 65 graduates, with the 93 students who did not pass falling into two groups : © 90 will follow a year of make-up classes; © 3 will need to validate the second year partial exam (at no cost) in order to obtain their diploma.
B- ONGOING TRAINING
Various actions were undertaken in 2003 to meet the ever-growing needs of loan institutions, ranging from initiation to expertise.
Aside from conventional activities enhanced by diversification of subjects, a programme of specific action targeting upper management at loan institutions began in 2003. This has taken the form of periodic “day events for decision makers” grouping upper management, led by experts well known locally and internationally, addressing issues of current national and international interest.
The Association has developed tailored programmes in English for bankers with basic knowledge of this language as well as computer skills. This is for staff whose work requires them to master both written and spoken English. Teaching materials and multimedia computer training programmes are available to this end. A new interactive multimedia approach was introduced in 2003 that will help with the full gamut of linguistic ability : written and verbal proficiency, comprehension, grammar and vocabulary, using the «Tell Me More» programme.
Furthermore, to promote cooperation between the Tunisian and Italian banking systems, a high level meeting was held in September 2003 at the headquarters of the Tunisia’s Professional Association for Banks and Financial Institutions, grouping Tunisian and Italian banking institutions and representatives of the central banks of the two countries.
The following table gives the breakdown by theme of the number of people benefiting from the activities implemented in 2003. Overall, 25 activities benefited 945 banking staff members, compared to 17 activities in 2002 benefiting 680 people.
Activity Report 2003 Annual Report 2003 65 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
NUMBER OF TRAINING PARTICIPANTS FOREIGN EXCHANGE & FOREIGN TRADE REGULATIONS IN TUNISIA 155 PROCEDURES FOR COLLECTING CLAIMS 45 CUSTOMER SERVICES 31 WINNING LOYALTY THROUGH CUSTOMER SERVICES 10 SALES TECHNIQUES 55 ELECTRONIC SIGNATURE 31 PERSUASIVE COMMUNICATION 11 RISK AND INSURANCE 9 CUSTOMER RELATIONS 12 ELECTRONIC CLEARING 26 LEGISLATION RELATING TO THE BUDGET 42 FINANCE CURRENCY MONEY IN A TURBULENT WORLD ECONOMY 20 BANKING GOVERNANCE AND MANAGEMENT 15 SPECIAL SAVINGS ACCOUNTS 35 BANKING COMPUTER SAFETY 27 DEMONSTRATION SOFTWARE ON GLOBAL BANKING 15 DEMONSTRATION/DETECTING COUNTERFEIT BANKNOTES 21 ECONOMIC & FINANCIAL ANALYSIS OF CULTURAL PROJECTS 16 TUNISO-ITALIAN COLLOQUIUM ON THE BANKING SECTOR 22 TRENDS IN TUNISIAN INDUSTRIAL COMPANIES AND THE ROLE OF BANKERS : WHAT IS AT STAKE 16 MULTIMEDIA INTERACTIVE APPLICATION FOR ENGLISH LEARNING 28 PREPARATION FOR TAKING THE EXAM LEADING TO QUALIFICATION FOR THE COMMON 86 CURRICULUM PREPARATION FOR THE FINAL ORAL EXAM (ITB) 169 PREPARATORY TRAINING ON THE PRIVATE AND PROFESSIONAL CUSTOMER MARKET 30 (THEME : EXPERTISE) BANKING TECHNICAL INSTITUTE (ITB) COLLECTION ON FRIENDLY TERMS 18 TOTAL 945
66 Annual Report 2003 Activity Report 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
Breakdown by establishment : NUMBER ESTABLISHMENT NUMBER ESTABLISHMENT OF PARTICIPANTS OF PARTICIPANTS AMEN LEASE 1 GL 1 AMEN BANK 75 MODERN LEASING 4 ABC 8 NAIB 16 ALUBAF 1 PTT 41 APTBEF 5 SIBTEL 2 ATB 44 SICAF-BH 1 BCT 12 SICAV-BH 1 BFT 12 SNIT 2 BH 103 STB 82 BIAT 90 STB (SICAR) 1 BNA 124 STB CAPITALIS 2 BS 71 STUSID 14 BT 33 SUD INVEST 2 BTEI 5 TIB 4 BTKD 26 TUNISIE FACTORING 2 BTL 27 TUNISIE LEASING 2 BTQI 14 UBCI 52 BTS 7 UIB 51 CNSS 2 UNIVERS. INVEST 1 CPSCL 1 UTL 2 GCT 1 TOTAL 945 The number of people benefiting from activities organized in the framework of the ongoing training programme, broken down by bank, is shown in the following graph :
PARTICIPANTS 140
120
100
80
60
40
20
0
Activity Report 2003 Annual Report 2003 67 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
C- REMOTE TRAINING
Project progress : n Courses have been or are being developed. n Trials will be held in September 2004. n Preparations will target an official start-up of the system in January 2005.
D- TECHNICAL COMMITTEES
1- Training commission
After the meetings held in 2002 by the training commission and work carried out by working groups, the following activities began or were carried out in 2003 : n Optimal use of funds made available by the European Union to upgrade the sector, by implementation of the following activities : l Audit and upgrading of human resource and training structures; l Assistance to the CPFB; l Setting up of a «skills/jobs» matrix for the sector.
n Elaboration of a tailored training programme for banking/financial institution upper management, n Setting up of an indexation system for authorizing training incentives.
2 - Pedagogical committee
The Pedagogical Committee of the Banking Training Professional Center held a series of meetings in 2003 on the following issues : n Discussion of the results of various exams and selective processes that took place in June 2003. (See 2 above for further details). Recommendations were made on a number of points, notably vigorous monitoring of students’ diligence, strong programmes to prepare for various oral exams, and languages (Arabic and French).
n Examination and discussion of the various stages in establishing a training curriculum for specialized jobs (third specialized year). Recommendations were made on the training content, evaluation procedures and scheduling of studies and internships.
68 Annual Report 2003 Activity Report 2003 A P P E N D I X
DEPOSIT BANK BALANCE SHEETS AND INCOME STATEMENTS
DEVELOPMENT BANK BALANCE SHEETS AND INCOME STATEMENTS
FINANCIAL INSTITUTIONS BALANCE SHEETS AND INCOME STATEMENTS
OTHER MEMBERS BALANCE SHEETS AND INCOME STATEMENTS
DEPOSIT BANK NETWORKS Tunisia’s Professional Association for Banks and Financial Institutions
APPENDIX
DEPOSIT BANK BALANCE SHEETS AND INCOME STATEMENTS 72-79 NATIONAL AGRICULTURAL BANK (BNA) 72 TUNISIAN BANKING COMPANY (STB) 74 ARAB INTERNATIONAL BANK OF TUNISIA (BIAT) 76 INTERNATIONAL BANKING UNION (UIB) 78 BANK FOR HOUSING (BH) 80 BANK OF THE SOUTH (BS) 82 BANK OF TUNISIA (BT) 84 BANKING UNION FOR TRADE AND INDUSTRY (UBCI) 86 ARAB TUNISIAN BANK (ATB) 88 AMEN BANK (A.BANK) 90 FRANCO-TUNISIAN BANK (BFT) 92 CITIBANK TUNIS ONSHORE BRANCH (CITIBANK TUNIS) 94 TUNISIAN SOLIDARITY BANK (BTS) 96 ARAB BANKING CORPORATION (ABC) 98 DEVELOPMENT BANK BALANCE SHEETS AND INCOME STATEMENTS 102-111 TUNISO-KUWAITI DEVELOPMENT BANK (BTKD) 102 TUNISO-QATARI INVESTMENT BANK (BTQI) 104 TUNISO-LIBYAN ARAB BANK FOR DEVELOPMENT AND FOREIGN TRADE (BTL) 106 TUNISO-SAUDI INVESTMENT AND DEVELOPMENT COMPANY (STUSID) 108 TUNISO-EMIRATES INVESTMENT BANK (BTEI) 110 FINANCIAL INSTITUTIONS BALANCE SHEETS AND INCOME STATEMENTS 114-139 Leasing company balance sheets and income statements 113 TUNISIA LEASING (T.L) 114 GENERAL LEASING (G.L) 116 TUNISIAN LEASING UNION (U.T.L) 118 INTERNATIONAL LEASING COMPANY (C.I.L) 120 ARAB TUNISIAN LEASE (A.T.L) 122 AMEN LEASE (A.L) 124 ARAB INTERNATIONAL LEASE (A.I.L) 126 MODERN LEASING (M.L) 128 HANNIBAL LEASE (H.L) 130 EL WIFACK LEASING (W.L) 132 Factoring company balance sheets and income statements 135 TUNISIA FACTORING (T.F) 136 UNIFACTOR (UNIFACTOR) 138 OTHER MEMBERS BALANCE SHEETS AND INCOME STATEMENTS 142-145 NORTH AFRICA INTERNATIONAL BANK (NAIB) 142 TUNISIAN BUSINESS BANK (BAT) 144 DEPOSIT BANK NETWORKS 148-169 NATIONAL AGRICULTURAL BANK (BNA) 148 TUNISIAN BANKING COMPANY (STB) 152 ARAB INTERNATIONAL BANK OF TUNISIA (BIAT) 155 INTERNATIONAL BANKING UNION (UIB) 157 BANK FOR HOUSING (BH) 159 BANK OF THE SOUTH (BS) 161 BANK OF TUNISIA (BT) 163 BANKING UNION FOR TRADE AND INDUSTRY (UBCI) 165 ARAB TUNISIAN BANK (ATB) 166 AMEN BANK (A. BANK) 167 FRANCO-TUNISIAN BANK (BFT) 168 ARAB BANKING CORPORATION (ABC) 168 CITIBANK TUNIS ONSHORE BRANCH (CITIBANK TUNIS) 169 TUNISIAN SOLIDARITY BANK (BTS) 169 NORTH AFRICA INTERNATIONAL BANK (NAIB) 169
APPENDIX Annual Report 2003 DEPOSIT BANK BALANCE SHEETS AND INCOME STATEMENTS NATIONAL AGRICULTURAL BANK
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER Cash and assets to the Central Bank of tunisia (BCT), postal current account (CCP) & TGT 34 616 2003 Claims on banking and financial establishments 100 748 (in thousand dinars) Claims on clients 2 826 835 Commercial securities portfolio 109 273 Investment portfolio 258 703 Fixed assets 49 803 Other assets 94 362
TOTAL ASSETS 3 474 340
LIABILITIES AMOUNT Central Bank of Tunisia & CCP 14 Deposits and assets of banking and financial establishments 172 095 Clients’ deposits and assets 2 358 581 Borrowings and special resources 478 357 Other liabilities 111 640
TOTAL LIABILITIES 3 120 687
CAPITAL STOCK AMOUNT Capital 100 000 Reserves 105 818 Bank’s own shares -205 Other capital stock 133 000 Income carried forward 102 Banking proceeds 14 938
TOTAL CAPITAL STOCK 353 653
TOTAL LIABILITIES AND CAPITAL STOCK 3 474 340
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT Guarantees, aval facilities and other guarantees given 717 716 Documentary credit 175 165 Assets given in guarantee 74 700
TOTAL POSSIBLE LIABILITIES 967 581
CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 132 178 Contingencies on securities 60 415
TOTAL CONTINGENCIES GIVEN 192 593
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 143 631 Guarantees received 707 973 TOTAL CONTINGENCIES RECEIVED 851 604
72 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements NATIONAL AGRICULTURAL BANK
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 169 692 AS AT 31 DECEMBER - Transactions with banking and financial establishments 2 848 2003 - Transactions with clients 163 113 (in thousand dinars) - Other Interests and similar revenues 3 731 Commissions (in proceeds) 38 826 Earnings on commercial securities portfolio and financial transactions 8 485 Investment portfolio revenues 8 207
TOTAL BANK OPERATING PROCEEDS 225 210
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 88 708 - Transactions with banking and financial establishments 6 945 - Transactions with clients 67 167 - Borrowings and special resources 13 479 - Other interests and charges 1 117 Commissions incurred 4 721 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 93 429
NET BANKING PROCEEDS 131 781
Endowments for provisions and result of correction of assets, off balance sheet items and liabilities 23 912 Trading in for provisions and result of correction of assets on investment portfolio 276 Other operating products 1 038 Wage bill 67 447 General operating charges 18 977 Endowments for provisions and for amortization on fixed assets 4 378
OPERATING RESULT 18 381
Balance in gain/loss from other current items -66 Tax on profits 3 377
RESULT OF CURRENT ACTIVITIES 14 938
Balance in gain/loss from extraordinary items 0
NET FISCAL YEAR INCOME 14 938
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 73 TUNISIAN BANKING COMPANY
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 91 897 (in thousand dinars) Claims on banking and financial establishments 245 141 Claims on clients 2 998 574 Commercial securities portfolio 139 707 Investment portfolio 222 623 Fixed assets 72 506 Other assets 234 823
TOTAL ASSETS 4 005 271
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 79 985 Deposits and assets of banking and financial establishments 38 699 Clients’ deposits and assets 2 276 988 Borrowings and special resources 891 117 Other liabilities 290 304
TOTAL LIABILITIES 3 577 093
CAPITAL STOCK AMOUNT
Capital 124 300 Reserves 248 077 Bank’s own shares -63 Other capital stock 37 347 Income carried forward 3 Banking proceeds 18 514
TOTAL CAPITAL STOCK 428 178
TOTAL LIABILITIES AND CAPITAL STOCK 4 005 271
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 685 533 Documentary credit 193 052
TOTAL POSSIBLE LIABILITIES 878 585
CONTINGENCIES GIVEN AMOUNT
Contingencies of financing given 204 846 Contingencies on securities 12 557
TOTAL CONTINGENCIES GIVEN 217 403
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 48 414 Guarantees received 509 338 TOTAL CONTINGENCIES RECEIVED 557 752
74 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements TUNISIAN BANKING COMPANY
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 182 042 AS AT 31 DECEMBER Commissions 34 277 2003 Earnings on commercial securities portfolio and financial transactions 21 400 (in thousand dinars) Investment portfolio revenues 8 261
TOTAL BANK OPERATING PROCEEDS 245 980
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 126 861 Commissions incurred 2 203 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 129 064
NET BANKING PROCEEDS 116 916
Trading in for provisions and result of correction of assets on claims, off balance sheet items and liabilities 4 012 Endowments for provisions and result of correction of assets on investment portfolio 14 775 Other operating products 2 018 Wage bill 65 664 General operating charges 17 237 Endowments for amortization and for provisions on fixed assets 6 565
OPERATING RESULT 18 705
Balance in gain / loss from other ordinary items 1 441 Tax on profits 1 632
RESULT OF CURRENT ACTIVITIES 18 514
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME 18 514
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 75 ARAB INTERNATIONAL BANK OF TUNISIA
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 120 027 (in thousand dinars) Claims on banking and financial establishments 303 327 Claims on clients 2 024 876 Commercial securities portfolio 311 382 Investment portfolio 117 164 Fixed assets 96 545 Other assets 89 769
TOTAL ASSETS 3 063 090
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 30 Deposits and assets of banking and financial establishments 177 706 Clients’ deposits and assets 2 441 843 Borrowings and special resources 126 764 Other liabilities 71 044
TOTAL LIABILITIES 2 817 387
CAPITAL STOCK AMOUNT
Capital 100 000 Reserves 123 209 Bank’s own shares 0 Other capital stock 215 Income carried forward 56 Banking proceeds 22 223
TOTAL CAPITAL STOCK 245 703
TOTAL LIABILITIES AND CAPITAL STOCK 3 063 090
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT Guarantees, aval facilities and other guarantees given 598 376 Documentary credit 251 104 Assets given in guarantee 0
TOTAL POSSIBLE LIABILITIES 849 480
CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 65 383 Contingencies on securities 6 202 TOTAL CONTINGENCIES GIVEN 71 585
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 0 Guarantees received 910 981
TOTAL CONTINGENCIES RECEIVED 910 981
76 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements ARAB INTERNATIONAL BANK OF TUNISIA
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 171 034 AS AT 31 DECEMBER Commissions (in proceeds) 37 395 2003 Earnings on commercial securities portfolio and financial transactions 29 618 (in thousand dinars) Investment portfolio revenues 1 013
TOTAL BANK OPERATING PROCEEDS 239 060
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 76 987 Commissions incurred 3 767 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 80 754
NET BANKING PROCEEDS 158 306
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 32 227 Endowments for provisions and result of correction of assets on investment portfolio 451 Other operating products 1 181 Wage bill 58 171 General operating charges 28 052 Endowments for amortization and for provisions on fixed assets 12 663
OPERATING RESULT 27 923
Balance in gain / loss from other ordinary items 201 Tax on profits 5 901
RESULT OF CURRENT ACTIVITIES 22 223 Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME 22 223
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 77 INTERNATIONAL BANKING UNION
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 16 044 (in thousand dinars) Claims on banking and financial establishments 87 669 Claims on clients 1 199 637 Commercial securities portfolio 0 Investment portfolio 202 337 Fixed assets 18 925 Other assets 157 078
TOTAL ASSETS 1 681 690
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 63 200 Deposits and assets of banking and financial establishments 90 958 Clients’ deposits and assets 1 213 551 Borrowings and special resources 36 854 Other liabilities 147 884
TOTAL LIABILITIES 1 552 447
CAPITAL STOCK AMOUNT
Capital 70 000 Reserves 59 227 Other capital stock 0 Income carried forward 6 Banking proceeds 10
TOTAL CAPITAL STOCK 129 243
TOTAL LIABILITIES AND CAPITAL STOCK 1 681 690
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 250 558 Documentary credit 70 929
TOTAL POSSIBLE LIABILITIES 321 487
CONTINGENCIES GIVEN AMOUNT
Contingencies of financing given 5 258 Contingencies on securities 2 623
TOTAL CONTINGENCIES GIVEN 7 881
CONTINGENCIES RECEIVED AMOUNT
Contingencies of financing received 0 Guarantees received 680 323
TOTAL CONTINGENCIES RECEIVED 680 323
78 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements INTERNATIONAL BANKING UNION
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 76 823 AS AT 31 DECEMBER Commissions received 14 807 2003 Earnings on commercial securities portfolio and financial transactions 3 674 (in thousand dinars) Investment portfolio revenues 11 262
TOTAL BANK OPERATING PROCEEDS 106 566
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 47 888 Commissions incurred 0 Loss on commercial securities portfolio and financial transactions 183
TOTAL BANK OPERATING CHARGES 48 071
NET BANKING PROCEEDS 58 495
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 8 533 Trading in for provisions and result of correction of assets on investment portfolio 141 Other operating products 25 Wage bill 35 002 General operating charges 11 375 Endowments for amortization on fixed assets 2 569
OPERATING RESULT 1 182
Balance in gain / loss from other ordinary items -508 Tax on profits 664
RESULT OF CURRENT ACTIVITIES 10
Balance in gain / loss from extraordinary items 0 NET FISCAL YEAR INCOME 10
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 79 BANK FOR HOUSING
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 17 328 (in thousand dinars) Claims on banking and financial establishments 223 900 Claims on clients 2 215 210 Commercial securities portfolio 165 472 Investment portfolio 83 460 Fixed assets 28 353 Other assets 128 680 TOTAL ASSETS 2 862 403
LIABILITIES AMOUNT Central Bank of Tunisia & CCP 0 Deposits and assets of banking and financial establishments 95 208 Clients’ deposits and assets 1 670 233 Borrowings and special resources 556 128 Other liabilities 348 938 TOTAL LIABILITIES 2 670 507
CAPITAL STOCK AMOUNT Capital 75 000 Reserves 99 603 Bank’s own shares 0 Other capital stock 414 Income carried forward 438 Banking proceeds 16 441 TOTAL CAPITAL STOCK 191 896
TOTAL LIABILITIES AND CAPITAL STOCK 2 862 403
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT Guarantees, aval facilities and other guarantees given 148 749 - To banking and financial establishments 22 284 - To clients 126 465 Documentary credit 108 644 Assets given in guarantee 0 TOTAL POSSIBLE LIABILITIES 257 393 CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 894 886 - To banking and financial establishments 0 - To clients 894 886 Contingencies on securities 600 - Participations non paid up 600 - Securities to be received 0 TOTAL CONTINGENCIES GIVEN 895 486 CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 540 277 Guarantees received 45 731 - Guaranties received from the state 2 640 - Guaranties received from banking financial and insurance establishments 0 - Guaranties received from clients 43 091 TOTAL CONTINGENCIES RECEIVED 586 008 80 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements BANK FOR HOUSING
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 143 902 AS AT 31 DECEMBER Commissions (in proceeds) 16 990 2003 Earnings from commercial securities portfolio and financial transactions 12 639 (in thousand dinars) Investment portfolio revenues 362
TOTAL BANK OPERATING PROCEEDS 173 893
BANK OPERATING CHARGES AMOUNT Interests incurred and similar charges 84 471 Commissions incurred 1 431 Loss on commercial securities portfolio and financial transactions 1 574 TOTAL BANK OPERATING CHARGES 87 476
NET BANKING PROCEEDS 86 417
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 11 593 Endowments for provisions and result of correction of assets, on investment portfolio 2 091 Other operating products 5 578 Wage bill 36 957 General operating charges 15 729 Endowments for amortization and for provisions on fixed assets 3 118
TOTAL OTHER CHARGES AND PROCEEDS 63 910
OPERATING RESULT 22 507
Balance in gain / loss from other ordinary items 225 Tax on profits 6 291
RESULT OF CURRENT ACTIVITIES 16 441
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME 16 441
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 81 BANK OF THE SOUTH
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 26 868 (in thousand dinars) Claims on banking and financial establishments 25 574 Claims on clients 1 434 258 Commercial securities portfolio 47 867 Investment portfolio 94 452 Fixed assets 22 602 Other assets 82 524
TOTAL ASSETS 1 734 145
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 24 640 Deposits and assets of banking and financial establishments 101 209 Clients’ deposits and assets 1 327 617 Borrowings and special resources 78 585 Other liabilities 48 196
TOTAL LIABILITIES 1 580 247
CAPITAL STOCK AMOUNT
Capital 100 000 Reserves 47 938 Bank’s own shares 0 Other capital stock 3 646 Income carried forward 30 Banking proceeds 2 284
TOTAL CAPITAL STOCK 153 898
TOTAL LIABILITIES AND CAPITAL STOCK 1 734 145
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 419 703 Documentary credit 119 223 Assets given in guarantee 0
TOTAL POSSIBLE LIABILITIES 538 926
CONTINGENCIES GIVEN AMOUNT
Contingencies of financing given 726 Contingencies on securities 5 136
TOTAL CONTINGENCIES GIVEN 5 862
CONTINGENCIES RECEIVED AMOUNT
Contingencies of financing received 0 Guarantees received 159 473 TOTAL CONTINGENCIES RECEIVED 159 473
82 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements BANK OF THE SOUTH
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 101 181 AS AT 31 DECEMBER Commissions received 17 070 2003 Earnings on commercial securities portfolio and financial transactions 5 639 (in thousand dinars) Investment portfolio revenues 526
TOTAL BANK OPERATING PROCEEDS 124 416
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 52 058 Commissions incurred 0 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 52 058
NET BANKING PROCEEDS 72 358
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 23 427 Trading in for provisions and result of correction of assets on investment portfolio 399 Other operating products 23 Wage bill 31 130 General Operating Charges 10 650 Endowments for amortization and for provisions on fixed assets 3 816
OPERATING RESULT 3 757
Balance in gain / loss from other ordinary items 1 047 Tax on profits 2 520
RESULT OF CURRENT ACTIVITIES 2 284
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME 2 284
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 83 BANK OF TUNISIA
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 14 727 (in thousand dinars) Claims on banking and financial establishments 155 860 Claims on clients 1 169 736 Commercial securities portfolio 41 363 Investment portfolio 84 535 Fixed assets 43 862 Other assets 46 080
TOTAL ASSETS 1 556 163
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 0 Deposits and assets of banking establishments 31 208 Clients’ deposits 975 593 Borrowings and special resources 240 934 Other liabilities 60 075
TOTAL LIABILITIES 1 307 810
CAPITAL STOCK AMOUNT
Capital 50 000 Reserves 117 865 Other capital stock 49 277 Income carried forward 988 Banking proceeds 30 223
TOTAL CAPITAL STOCK 248 353
TOTAL LIABILITIES AND CAPITAL STOCK 1 556 163
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 219 685 Documentary credit 70 939
TOTAL POSSIBLE LIABILITIES 290 624
CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 62 806 Contingencies on securities 595 TOTAL CONTINGENCIES GIVEN 63 401
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 31 152 Guarantees received 604 079 TOTAL CONTINGENCIES RECEIVED 635 231
84 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements BANK OF TUNISIA
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 100 554 AS AT 31 DECEMBER Commissions (in proceeds) 13 900 2003 Earnings on commercial securities portfolio and financial transactions 6 480 (in thousand dinars) Investment portfolio revenues 6 324
TOTAL BANK OPERATING PROCEEDS 127 258
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 43 651 Commissions incurred 132
TOTAL BANK OPERATING CHARGES 43 783
NET BANKING PROCEEDS 83 475
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 16 251 Other operating products 266 Wage bill 18 048 General operating charges 7 344 Endowments for amortization and for provisions on fixed assets 4 857
OPERATING RESULT 37 241
Balance in gain / loss from other ordinary items -270 Tax on profits 6 748
RESULT OF CURRENT ACTIVITIES 30 223
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME 30 223
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 85 BANKING UNION FOR TRADE AND INDUSTRY
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 33 116 (in thousand dinars) Claims on banking and financial establishments 139 143 Claims on clients 750 459 Commercial securities portfolio 17 837 Investment portfolio 28 821 Fixed assets 31 508 Other assets 28 213
TOTAL ASSETS 1 029 097
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 0 Deposits and assets of banking establishments 39 390 Clients’ deposits and assets 700 294 Borrowings and special resources 102 800 Other liabilities 37 579
TOTAL LIABILITIES 880 063
CAPITAL STOCK AMOUNT
Capital 35 000 Reserves 106 844 Bank’s own shares 0 Other capital stock 106 Income carried forward 4 Banking proceeds 7 080
TOTAL CAPITAL STOCK 149 034
TOTAL LIABILITIES AND CAPITAL STOCK 1 029 097
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 177 023 Documentary credit 61 430 Assets given in guarantee 0
TOTAL POSSIBLE LIABILITIES 238 453
CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 57 860 Contingencies on securities 331 TOTAL CONTINGENCIES GIVEN 58 191
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 0 Guarantees received 293 036
TOTAL CONTINGENCIES RECEIVED 293 036
86 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements BANKING UNION FOR TRADE AND INDUSTRY
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 63 516 AS AT 31 DECEMBER Commissions (in proceeds) 15 687 2003 Earnings on commercial securities portfolio and financial transactions 5 127 (in thousand dinars) Investment portfolio revenues 336
TOTAL BANK OPERATING PROCEEDS 84 666
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 20 725 Commissions incurred 1 271
TOTAL BANK OPERATING CHARGES 21 996
NET BANKING PROCEEDS 62 670
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 15 630 Endowments for provisions and result of correction of assets on investment portfolio 78 Other operating products 2 057 Wage bill 20 812 General operating charges 11 340 Endowments for amortization and for provisions on fixed assets 6 425
OPERATING RESULT 10 442
Balance in gain / loss from other ordinary items 13 Tax on profits 3 375 RESULT OF CURRENT ACTIVITIES 7 080
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME 7 080
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 87 ARAB TUNISIAN BANK
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 31 155 (in thousand dinars) Claims on banking and financial establishments 105 544 Claims on clients 776 393 Commercial securities portfolio 166 640 Investment portfolio 36 268 Fixed assets 22 287 Other assets 64 077
TOTAL ASSETS 1 202 364
LIABILITIES AMOUNT Central Bank of Tunisia & CCP 0 Deposits and assets of banking and financial establishments 67 437 Clients’ deposits and assets 958 832 Borrowings and special resources 19 171 Other liabilities 63 544
TOTAL LIABILITIES 1 108 984
CAPITAL STOCK AMOUNT
Capital or appropriation 35 000 Reserves 44 966 Bank’s own shares 0 Other capital stock 0 Income carried forward 19 Banking proceeds 13 395
TOTAL CAPITAL STOCK 93 380
TOTAL LIABILITIES AND CAPITAL STOCK 1 202 364
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 144 308 Documentary credit 247 671 Assets given in guarantee 0
TOTAL POSSIBLE LIABILITIES 391 979
CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 80 910 Contingencies on securities 4 356
TOTAL CONTINGENCIES GIVEN 85 266
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 0 Guarantees received 352 182
TOTAL CONTINGENCIES RECEIVED 352 182
88 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements ARAB TUNISIAN BANK
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 62 147 AS AT 31 DECEMBER Commissions 11 913 2003 Earnings on commercial securities portfolio and financial transactions 16 639 (in thousand dinars) Investment portfolio revenues 2 206
TOTAL BANK OPERATING PROCEEDS 92 905
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 32 526 Commissions incurred 898 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 33 424
NET BANKING PROCEEDS 59 481
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 11 653 Endowments for provisions and result of correction of assets on investment portfolio 1 697 Other operating products 80 Wage bill 18 803 General operating charges 9 128 Endowments for amortization and for provisions on fixed assets 2 695
OPERATING RESULT 15 585
Balance in gain / loss from other ordinary items 356 Tax on profits 2 546
RESULT OF CURRENT ACTIVITIES 13 395
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME 13 395
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 89 AMEN BANK
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 35 612 (in thousand dinars) Claims on banking and financial establishments 138 184 Claims on clients 1 558 043 Commercial securities portfolio 60 372 Investment portfolio 103 838 Fixed assets 65 508 Other assets 21 382
TOTAL ASSETS 1 982 939
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 0 Deposits and assets of banking and financial establishments 36 254 Clients’ deposits and assets 1 567 810 Borrowings and special resources 164 678 Other liabilities 24 831
TOTAL LIABILITIES 1 793 573
CAPITAL STOCK AMOUNT
Capital 70 000 Reserves 92 067 Bank’s own shares -634 Other capital stock 423 Income carried forward 9 Banking proceeds 27 501
TOTAL CAPITAL STOCK 189 366
TOTAL LIABILITIES & CAPITAL STOCK 1 982 939
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 237 122 Documentary credit 103 648 Assets given in guarantee 0
TOTAL POSSIBLE LIABILITIES 340 770
CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 38 650 Contingencies on securities 1 210 TOTAL CONTINGENCIES GIVEN 39 860
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 0 Guarantees received 187 019 TOTAL CONTINGENCIES RECEIVED 187 019
90 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements AMEN BANK
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 127 381 AS AT 31 DECEMBER Commissions received 19 508 2003 Earnings on commercial securities portfolio and financial transactions 11 244 (in thousand dinars) Investment portfolio revenues 5 229
TOTAL BANK OPERATING PROCEEDS 163 362
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 84 234 Commissions incurred 1 152 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 85 386
NET BANKING PROCEEDS 77 976
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 31 500 Trading in for provisions and result of correction of assets on investment portfolio 14 541 Other operating products 732 Wage bill 19 642 General Operating Charges 8 284 Endowments for amortization and for provisions on fixed assets 4 118
OPERATING RESULT 29 705
Balance in gain / loss from ordinary items 302 Tax on profits 2 506
RESULT OF CURRENT ACTIVITIES 27 501
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME 27 501
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 91 FRANCO-TUNISIAN BANK
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 2 599 (in thousand dinars) Claims on banking and financial establishments 6 131 Claims on clients 85 243 Commercial securities portfolio 12 Investment portfolio 1 004 Fixed assets 3 149 Other assets 6 521
TOTAL ASSETS 104 659
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 4 Deposits and assets of banking and financial establishments 737 Clients’ deposits and assets 92 897 Borrowings and special resources 1 575 Other liabilities 2 464
TOTAL LIABILITIES 97 677
CAPITAL STOCK AMOUNT
Capital 5 000 Reserves 900 Other capital stock 2 723 Income carried forward -1 199 Banking proceeds -442
TOTAL CAPITAL STOCK 6 982
TOTAL LIABILITIES & CAPITAL STOCK 104 659
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT Guarantees, aval facilities and other guarantees given 13 861 Documentary credit 5 077 Assets given in guarantee 0 TOTAL POSSIBLE LIABILITIES 18 938
CONTINGENCIES GIVEN AMOUNT
Contingencies of financing given 0 Contingencies on securities 0 TOTAL CONTINGENCIES GIVEN 0
CONTINGENCIES RECEIVED AMOUNT
Contingencies of financing received 0 Guarantees received 2 960 TOTAL CONTINGENCIES RECEIVED 2 960
92 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements FRANCO-TUNISIAN BANK
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 6 173 AS AT 31 DECEMBER Commissions (in proceeds) 1 136 2003 Earnings on commercial securities portfolio and financial transactions 216 (in thousand dinars) Investment portfolio revenues 23
TOTAL BANK OPERATING PROCEEDS 7 548
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 3 318 Commissions incurred 0 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 3 318
NET BANKING PROCEEDS 4 230
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 6 Trading in for provisions and result of correction of assets, on investment portfolio 0 Other operating products 5 Wage bill 3 766 General operating charges 651 Endowments for amortization and for provisions on fixed assets 565
OPERATING RESULT (753)
Balance in gain / loss from ordinary items 313 Tax on profits 2
RESULT OF CURRENT ACTIVITIES (442)
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME (442)
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 93 CITIBANK TUNIS ONSHORE BRANCH
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 2 403 (in thousand dinars) Claims on banking and financial establishments 86 691 Claims on clients 51 923 Commercial securities portfolio 81 658 Investment portfolio 35 Fixed assets 307 Other assets 8 826
TOTAL ASSETS 231 843
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 1 214 Deposits and assets of banking and financial establishments 67 632 Clients’ deposits and assets 148 832 Borrowings and special resources 0 Other liabilities 2 846
TOTAL LIABILITIES 220 524
CAPITAL STOCK AMOUNT
Capital 10 000 Reserves 0 Banks’ own shares 0 Other capital stock 0 Income carried forward 1 628 Banking proceeds -309
TOTAL CAPITAL STOCK 11 319
TOTAL LIABILITIES & CAPITAL STOCK 231 843
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 6 077 Documentary credit 3 698 Assets given in guarantee 0
TOTAL POSSIBLE LIABILITIES 9 775
CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 5 737 Contingencies on securities 0 TOTAL CONTINGENCIES GIVEN 5 737
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 0 Guarantees received 63 195 TOTAL CONTINGENCIES RECEIVED 63 195
94 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements CITIBANK TUNIS ONSHORE BRANCH
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 9 574 AS AT 31 DECEMBER Commissions (in proceeds) 1 285 2003 Earnings on commercial securities portfolio and financial transactions 5 064 (in thousand dinars) Investment portfolio revenues 0
TOTAL BANK OPERATING PROCEEDS 15 923
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 9 695 Commissions incurred 0 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 9 695
NET BANKING PROCEEDS 6 228
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 2 725 Endowments for provisions and result of correction of assets, on investment portfolio 0 Other operating products 0 Wage bill 2 205 General operating charges 1 178 Endowments for amortization and for provisions on fixed assets 121
OPERATING RESULT (1)
Balance in gain / loss from ordinary items 0 Tax on profits 308
RESULT OF CURRENT ACTIVITIES (309)
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME (309)
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 95 TUNISIAN SOLIDARITY BANK
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 42 (in thousand dinars) Claims on banking and financial establisments 17 191 Claims on clients 241 152 Commercial securities portfolio 0 Investment portfolio 279 Fixed assets 1 096 Other assets 31 969
TOTAL ASSETS 291 729
LIABILITIES AMOUNT Central Bank of Tunisia and CCP 2 210 Deposits and assets of banking and financial establishments 602 Clients’ deposits and assets 5 737 Borrowings and special resources 228 890 Other liabilities 11 884 TOTAL LIABILITIES 249 323 CAPITAL STOCK AMOUNT Capital or appropriation 40 000 Reserves 855 Other capital stock 0 Income carried forward 1 241 Banking proceeds 310
TOTAL CAPITAL STOCK 42 406
TOTAL LIABILITIES AND CAPITAL STOCK 291 729
OFF BALANCE SHEET ITEMS POSSIBLE LIABILITIES AMOUNT Guarantees, aval facilities and other guarantees given 71 Documentary credit 0 Assets given in guarantee 878 TOTAL POSSIBLE LIABILITIES 949
CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 19 858 Contingencies on securities 0 TOTAL CONTINGENCIES GIVEN 19 858
CONTINGENCIES RECEIVED AMOUNT
Contingencies of financing received 20 157 Guarantees received 0 TOTAL CONTINGENCIES RECEIVED 20 157
96 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements TUNISIAN SOLIDARITY BANK
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 6 281 AS AT 31 DECEMBER Commissions (in proceeds) 779 2003 Earnings on commercial securities portfolio and financial transactions 0 (in thousand dinars) Investment portfolio revenues 0
TOTAL BANK OPERATING PROCEEDS 7 060
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 2 298 Commissions incurred 0 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 2 298
NET BANKING PROCEEDS 4 762
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 2 460 Endowments for provisions and result of correction of assets, on investment portfolio 0 Other operating products 2 277 Wage bill 2 212 General operating charges 1 466 Endowments for amortization and for provisions on fixed assets 327
OPERATING RESULT 574
Balance in gain / loss from ordinary items 0 Tax on profits 266
RESULT OF CURRENT ACTIVITIES 308
Balance in gain / loss from extraordinary items 2
NET FISCAL YEAR INCOME 310
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 97 ARAB BANKING CORPORATION
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 3 654 (in thousand dinars) Claims on banking and financial establishments 77 966 Claims on clients 104 888 Commercial securities portfolio 4 794 Investment portfolio 20 Fixed assets 2 710 Other assets 1 010
TOTAL ASSETS 195 042
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 0 Deposits and assets of banking and financial establishments 27 738 Clients’ deposits and assets 141 434 Borrowings and special resources 4 330 Other liabilities 6 537
TOTAL LIABILITIES 180 039
CAPITAL STOCK AMOUNT
Capital 18 000 Reserves 277 Other capital stock 0 Income carried forward -1 601 Banking proceeds -1 673
TOTAL CAPITAL STOCK 15 003
TOTAL LIABILITIES & CAPITAL STOCK 195 042
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 6 399 Documentary credit 3 495
TOTAL POSSIBLE LIABILITIES 9 894 CONTINGENCIES GIVEN AMOUNT
Contingencies of financing given 7 398 Contingencies on securities 0 TOTAL CONTINGENCIES GIVEN 7 398
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 0 Guarantees received 49 915
TOTAL CONTINGENCIES RECEIVED 49 915
98 Annual Report 2003 Deposit Bank Balance Sheets and Income Statements ARAB BANKING CORPORATION
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 10 461 AS AT 31 DECEMBER Commissions (in proceeds) 773 2003 Earnings on commercial securities portfolio and financial transactions 328 (in thousand dinars) Investment portfolio revenues 0
TOTAL BANK OPERATING PROCEEDS 11 562
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 7 963 Commissions incurred 245 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 8 208
NET BANKING PROCEEDS 3 354
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 517 Endowments for provisions and result of correction of assets, on investment portfolio 0 Other operating products 7 Wage bill 2 506 General operating charges 1 236 Endowments for amortization and for provisions on fixed assets 773
OPERATING RESULT (1 671)
Balance in gain / loss from other ordinary items 0 Tax on profits 2
NET FISCAL YEAR INCOME (1 673)
Deposit Bank Balance Sheets and Income Statements Annual Report 2003 99 DEVELOPMENT BANK BALANCE SHEETS AND INCOME STATEMENTS TUNISO-KUWAITI DEVELOPMENT BANK
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 10 118 (in thousand dinars) Claims on banking and financial establishments 28 595 Claims on clients 219 005 Commercial securities portfolio 752 Investment portfolio 31 714 Fixed assets 6 978 Other assets 40 052
TOTAL ASSETS 337 214
LIABILITIES AMOUNT Central Bank of Tunisia & CCP 61 Deposits and assets of banking and financial establishments 16 040 Clients’ deposits and assets 27 781 Borrowings and special resources 148 905 Other liabilities 17 959 TOTAL LIABILITIES 210 746
CAPITAL STOCK AMOUNT
Capital or appropriation 100 000 Social Fund 2 121 Reserves 24 089 Bank’s own shares 0 Income carried forward 4 Banking proceeds 254
TOTAL CAPITAL STOCK 126 468
TOTAL LIABILITIES AND CAPITAL STOCK 337 214
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 17 686 Documentary credit 34 Assets given in guarantee 0
TOTAL POSSIBLE LIABILITIES 17 720 CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 16 496 Contingencies on securities 909 TOTAL CONTINGENCIES GIVEN 17 405 CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 29 905 Guarantees received 0
TOTAL CONTINGENCIES RECEIVED 29 905
102 Annual Report 2003 Development Bank Balance Sheets and Income Statements TUNISO-KUWAITI DEVELOPMENT BANK
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 19 134 AS AT 31 DECEMBER Commissions 666 2003 Earnings on commercial securities portfolio and financial transactions 53 (in thousand dinars) Investment portfolio revenues 1 720
TOTAL BANK OPERATING PROCEEDS 21 573
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 9 669 Commissions incurred 1 261 Loss on commercial securities portfolio and financial transactions 90
TOTAL BANK OPERATING CHARGES 11 020
NET BANKING PROCEEDS 10 553
Trading in for provisions and result of correction of assets on claims, off balance sheet items and liabilities 996 Trading in for provisions and result of correction of assets, on investment portfolio 2 851 Other operating products 848 Wage bill 3 633 General operating charges 1 705 Endowments for amortization and for provisions on fixed assets 447
OPERATING RESULT 9 463
Balance in gain / loss from other ordinary items (extraordinary provisions) -9 207 Tax on profits 2
RESULT OF CURRENT ACTIVITIES 254
Balance in gain/loss from extraordinary items 0
NET FISCAL YEAR INCOME 254
Development Bank Balance Sheets and Income Statements Annual Report 2003 103 TUNISO-QATARI INVESTMENT BANK
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 579 (in thousand dinars) Claims on banking and financial establishments 242 Claims on clients 41 893 Commercial securities portfolio 212 Investment portfolio 4 334 Fixed assets 1 992 Other assets 20 928
TOTAL ASSETS 70 180
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 0 Deposits and assets of banking and financial establishments 17 137 Clients’ deposits and assets 2 218 Borrowings and special resources 28 667 Other liabilities 1 812
TOTAL LIABILITIES 49 834
CAPITAL STOCK AMOUNT
Capital 20 006 Reserves 116 Bank’s own shares 0 Other capital stock 0 Income carried forward 0 Banking proceeds 224
TOTAL CAPITAL STOCK 20 346
TOTAL LIABILITIES AND CAPITAL STOCK 70 180
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 1 151 Documentary credit 686
TOTAL POSSIBLE LIABILITIES 1 837
CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 1 221 Contingencies on securities 0 TOTAL CONTINGENCIES GIVEN 1 221
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 0 Guarantees received 8 007 TOTAL CONTINGENCIES RECEIVED 8 007
104 Annual Report 2003 Development Bank Balance Sheets and Income Statements TUNISO-QATARI INVESTMENT BANK
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 4 476 AS AT 31 DECEMBER Commissions 66 2003 Earnings on commercial securities portfolio and financial transactions 71 (in thousand dinars) Investment portfolio revenues 311
TOTAL BANK OPERATING PROCEEDS 4 924
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 2 787 Commissions incurred 0 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 2 787
NET BANKING PROCEEDS 2 137 Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 173 Endowments for provisions and result of correction of assets, on investment portfolio 175 Other operating products 51 Wage bill 1 261 General operating charges 611 Endowments for amortization and for provisions on fixed assets 118
OPERATING RESULT (150)
Balance in gain / loss from other ordinary items 376 Tax on profits 2 RESULT OF CURRENT ACTIVITIES 224
NET FISCAL YEAR INCOME 224
Development Bank Balance Sheets and Income Statements Annual Report 2003 105 TUNISO-LIBYAN ARAB BANK FOR DEVELOPMENT AND FOREIGN TRADE BALANCE SHEET AS AT 31 DECEMBER ASSETS AMOUNT 2003 (in thousand dinars) Cash and assets to BCT, CCP & TGT 1 143 Claims on banking and financial establishments 31 093 Claims on clients 96 950 Commercial securities portfolio 136 Investment portfolio 40 252 Fixed assets 1 971 Other assets 2 757
TOTAL ASSETS 174 302
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 0 Deposits and assets of banking and financial establishments 29 965 Clients’ deposits and assets 40 434 Borrowings and special resources 22 348 Other liabilities 5 789
TOTAL LIABILITIES 98 536
CAPITAL STOCK AMOUNT
Capital 100 000 Reserves 24 394 Bank’s own shares 0 Other capital stock 0 Income carried forward 0 Banking proceeds -48 628
TOTAL CAPITAL STOCK 75 766
TOTAL LIABILITIES AND CAPITAL STOCK 174 302
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT Guarantees, aval facilities and other guarantees given 28 816 Documentary credit 76 325 Assets given in guarantee 0 TOTAL POSSIBLE LIABILITIES 105 141
CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 1 572 Contingencies on securities 654 TOTAL CONTINGENCIES GIVEN 2 226
CONTINGENCIES RECEIVED AMOUNT
Contingencies of financing received 0 Guarantees received 32 181
TOTAL CONTINGENCIES RECEIVED 32 181
106 Annual Report 2003 Development Bank Balance Sheets and Income Statements TUNISO-LIBYAN ARAB BANK FOR DEVELOPMENT AND FOREIGN TRADE STATEMENT OF BANK OPERATING PROCEEDS AMOUNT INCOME AS AT 31 DECEMBER Interests on loans and similar revenues 12 329 2003 Commissions 2 882 (in thousand dinars) Earnings on commercial securities portfolio and financial transactions 145 Investment portfolio revenues 72
TOTAL BANK OPERATING PROCEEDS 15 428
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 7 204 Commissions incurred 3 Loss on commercial securities portfolio and financial transactions 6
TOTAL BANK OPERATING CHARGES 7 213
NET BANKING PROCEEDS 8 215 Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 52 183 Endowments for provisions and result of correction of assets, on investment portfolio 305 Other operating products 0 Wage bill 2 839 General operating charges 1 231 Endowments for amortization and for provisions on fixed assets 388
OPERATING RESULT (48 731)
Balance in gain / loss from other ordinary items 103 Tax on profits 0
RESULT OF CURRENT ACTIVITIES (48 628)
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME (48 628)
Development Bank Balance Sheets and Income Statements Annual Report 2003 107 TUNISO-SAUDI INVESTMENT AND DEVELOPMENT COMPANY BALANCE SHEET AS AT 31 DECEMBER ASSETS AMOUNT 2003 (in thousand dinars) Cash and assets to BCT, CCP & TGT 528 Claims on banking and financial establishments 37 814 Claims on clients 81 676 Commercial securities portfolio 366 Investment portfolio 38 547 Fixed assets 2 857 Other assets 3 954
TOTAL ASSETS 165 742
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 0 Deposits and assets of banking and financial establishments 0 Clients’ deposits and assets 12 828 Borrowings and special resources 7 256 Other liabilities 7 963
TOTAL LIABILITIES 28 047
CAPITAL STOCK AMOUNT
Capital 100 000 Reserves 30 646 Bank’s own shares 0 Other capital stock 0 Income carried forward 0 Banking proceeds 7 049
TOTAL CAPITAL STOCK 137 695
TOTAL LIABILITIES AND CAPITAL STOCK 165 742
OFF BALANCE SHEET ITEMS POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 239 Documentary credit 2 374 Assets given in guarantee 9 TOTAL POSSIBLE LIABILITIES 2 622 CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 7 993 Contingencies on securities 1 060 Guarantees given 641 TOTAL CONTINGENCIES GIVEN 9 694
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 0 Guarantees received 69 054 TOTAL CONTINGENCIES RECEIVED 69 054 108 Annual Report 2003 Development Bank Balance Sheets and Income Statements TUNISO-SAUDI INVESTMENT AND DEVELOPMENT COMPANY STATEMENT OF BANK OPERATING PROCEEDS AMOUNT INCOME AS AT 31 DECEMBER Interests on loans and similar revenues 8 926 2003 Commissions 237 (in thousand dinars) Earnings on commercial securities portfolio and financial transactions 164 Investment portfolio revenues 3 000
TOTAL BANK OPERATING PROCEEDS 12 327
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 905 Commissions incurred 0 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 905
NET BANKING PROCEEDS 11 422 Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 1 430 Trading in for provisions and result of correction of assets, on investment portfolio 1 326 Other operating products 162 Wage bill 3 065 General operating charges 1 074 Endowments for amortization and for provisions on fixed assets 287
OPERATING RESULT 7 054
Balance in gain / loss from other ordinary items -3 Tax on profits 2
RESULT OF CURRENT ACTIVITIES 7 049
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME 7 049
Development Bank Balance Sheets and Income Statements Annual Report 2003 109 TUNISO-EMIRATES INVESTMENT BANK
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 1 354 (in thousand dinars) Claims on banking and financial establishments 12 235 Claims on clients 183 590 Commercial securities portfolio 0 Investment portfolio 23 780 Fixed assets 5 341 Other assets 13 084
TOTAL ASSETS 239 384
LIABILITIES AMOUNT
Central Bank of Tunisia and CCP 0 Deposits and assets of banking and financial establishments 37 232 Clients’ deposits and assets 2 398 Borrowings and special resources 71 201 Other liabilities 1 568
TOTAL LIABILITIES 112 399
CAPITAL STOCK AMOUNT
Capital 90 000 Reserves 33 805 Bank’s own shares -840 Other capital stock 0 Income carried forward 2 Banking proceeds 4 018 TOTAL CAPITAL STOCK 126 985
TOTAL LIABILITIES AND CAPITAL STOCK 239 384
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 31 774 Documentary credit 0 Assets given in guarantee 0 TOTAL POSSIBLE LIABILITIES 31 774 CONTINGENCIES GIVEN AMOUNT Contingencies of financing given 16 989 Contingencies on securities 88 TOTAL CONTINGENCIES GIVEN 17 077
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 51 472 Guarantees received 176 TOTAL CONTINGENCIES RECEIVED 51 648
110 Annual Report 2003 Development Bank Balance Sheets and Income Statements TUNISO-EMIRATES INVESTMENT BANK
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 14 132 AS AT 31 DECEMBER Commissions received 311 2003 Investment portfolio revenues 532 (in thousand dinars)
TOTAL BANK OPERATING PROCEEDS 14 975
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 5 197 Commissions incurred 12
TOTAL BANK OPERATING CHARGES 5 209
NET BANKING PROCEEDS 9 766
Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 827 Endowments for provisions and result of correction of assets, on investment portfolio 619 Other operating products 29 Wage bill 2 290 General operating charges 1 015 Endowments for amortization and for provisions on fixed assets 490
OPERATING RESULT 4 554
Balance in gain / loss from other ordinary items -71 Tax on profits 465
RESULT OF CURRENT ACTIVITIES 4 018
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME 4 018
Development Bank Balance Sheets and Income Statements Annual Report 2003 111 FINANCIAL INSTITUTIONS BALANCE SHEETS AND INCOME STATEMENTS LEASING COMPANY BALANCE SHEETS AND INCOME STATEMENTS TUNISIA LEASING
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 1 357 Depreciation (-) (832) Net intangible assets 525 Assets used by the firm 2 457 Depreciation (-) (1 587) Net tangible assets 870 Assets earmarked for rent (leasing) 451 801 Depreciation (-) (252 327) Net assets earmarked for rent 199 474 Financial assets 19 108 Reserves (-) (1 055) Net financial assets 18 053 Other non current assets 602 TOTAL NON CURRENT ASSETS 219 524 CURRENT ASSETS Clients and related accounts 17 123 Put aside for reserves and charges (-) (11 679) Clients and net related accounts 5 444 Other current assets 2 213 Investments and other financial assets 4 056 Cash and near cash 4 060 TOTAL CURRENT ASSETS 15 773
TOTAL ASSETS 235 297 SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 17 500 Reserves 8 920 Bank’s own shares 0 Income carried forward 8 506 PRE-PROFIT SHAREHOLDERS’ EQUITY 34 926 Net financial year profit 3 508 TOTAL SHAREHOLDERS’ EQUITY 38 434
LIABILITIES AMOUNT NON CURRENT LIABILITIES Loans 88 980 Other financial liabilities 3 096 Reserves 502 TOTAL NON CURRENT LIABILITIES 92 578 CURRENT LIABILITIES Suppliers and related accounts 10 304 Other current liabilities 10 971 Bank financing 83 010 TOTAL CURRENT LIABILITIES 104 285
TOTAL LIABILITIES 196 863
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 235 297 114 Annual Report 2003 Leasing Company Balance Sheets and Income Statements TUNISIA LEASING
OPERATING INCOME AMOUNT STATEMENT OF INCOME Gross income from leasing 104 110 AS AT 31 DECEMBER Interest overdue 1 172 2003 Transferred from reserves (202) (in thousand dinars) Allotment for depreciation of assets being rented (-) (84 133)
TOTAL OPERATING INCOME 20 947
Net financial charges 11 219 Income from investments 650
NET PROCEEDS 10 378
OPERATING EXPENSES AMOUNT
Staff costs 1 903 Allotment for depreciation 518 Allotment for reserves 1 739 Other operating expenses 2 064 Other operating income 60
TOTAL OPERATING EXPENSES 6 164
OPERATING PROFIT OR LOSS 4 214
Other ordinary profits 137 Other ordinary losses 277
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 4 074
Tax on profits 566
POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 3 508
Extraordinary items 0
NET PROFIT OR LOSS FOR THE YEAR 3 508
Effects of accounting charges (net of tax) 56 RESULT AFTER ACCOUNTING CHANGES 3 564
Leasing Company Balance Sheets and Income Statements Annual Report 2003 115 GENERAL LEASING
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 153 Depreciation (-) (117) Net intangible assets 36 Assets used by the firm 3 215 Depreciation (-) (485) Net tangible assets 2 730 Assets earmarked for rent (leasing) 266 257 Depreciation (-) (140 237) Net assets earmarked for rent 126 020 Financial assets 1 017 Reserves (-) (0) Net financial assets 1 017 Other non current assets 459 TOTAL NON CURRENT ASSETS 130 262 CURRENT ASSETS Clients and related accounts 18 857 Put aside for reserves and charges (-) (15 393) Clients and net related accounts 3 464 Factored purchasers 2 656 Other current assets 3 112 Investments and other financial assets 0 Cash and near cash 6 510 TOTAL CURRENT ASSETS 15 742 TOTAL ASSETS 146 004 SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 10 000 Reserves 1 252 Other equity 6 013 Income carried forward 258 PRE-PROFIT SHAREHOLDERS’ EQUITY 17 523 Net financial year profit 456 TOTAL SHAREHOLDERS’ EQUITY 17 979 LIABILITIES AMOUNT NON CURRENT LIABILITIES Loans 80 615 Other financial liabilities 0 Reserves (+) 95 TOTAL NON CURRENT LIABILITIES 80 710 CURRENT LIABILITIES Suppliers and related accounts 4 975 Member current accounts and related accounts 582 Other current liabilities 3 564 Bank financing 38 194
TOTAL CURRENT LIABILITIES 47 315 TOTAL LIABILITIES 128 025 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 146 004
116 Annual Report 2003 Leasing Company Balance Sheets and Income Statements GENERAL LEASING
OPERATING INCOME AMOUNT STATEMENT OF INCOME Gross income from leasing 56 372 AS AT 31 DECEMBER Allotment for depreciation of assets being rented (-) (45 115) 2003 NET INCOME FROM LEASING 11 257 (in thousand dinars) Factoring fees 149 Interest on financing 145 INCOME FROM FACTORING 294 Other operating income 1 762 Transferred from reserves 1 241
TOTAL OPERATING INCOME 14 554
OPERATING EXPENSES AMOUNT
Staff costs 1 084 Allotment for depreciation 369 Allotment for reserves 3 085 Other operating expenses 775
TOTAL OPERATING EXPENSES 5 313
OPERATING PROFIT OR LOSS 9 241
Net financial charges 8 301 Income from investments and shareholdings 119 Other ordinary profits 169 Other ordinary losses 649
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 579
Tax on profits 123
POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 456
Extraordinary items 0
NET PROFIT OR LOSS FOR THE YEAR 456
Leasing Company Balance Sheets and Income Statements Annual Report 2003 117 TUNISIAN LEASING UNION
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 377 Depreciation (-) (212) Net intangible assets 165 Assets used by the firm 509 Depreciation (-) (249) Net tangible assets 260 Assets earmarked for rent (leasing) 202 552 Depreciation (-) (138 124) Net assets earmarked for rent 64 428 Financial assets 95 Reserves (-) (0) Net financial assets 95 Other non current assets 13 TOTAL NON CURRENT ASSETS 64 961 CURRENT ASSETS Clients and related accounts 18 199 Put aside for reserves and charges (-) (14 179) Clients and net related accounts 4 020 Other current assets 2 352 Investments and other financial assets 68 Cash and near cash 2 604 TOTAL CURRENT ASSETS 9 044 TOTAL ASSETS 74 005 SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 10 000 Reserves 1 151 Bank’s own shares 0 Reserves for general risks 416 Income carried forward 0 PRE-PROFIT SHAREHOLDERS’ EQUITY 11 567 Net financial year profit 609 TOTAL SHAREHOLDERS’ EQUITY 12 176 LIABILITIES AMOUNT NON CURRENT LIABILITIES Loans 30 718 Reserves 173 TOTAL NON CURRENT LIABILITIES 30 891
CURRENT LIABILITIES Suppliers and related accounts 2 098 Other current liabilities 2 929 Bank financing and other financial liabilities 25 911 TOTAL CURRENT LIABILITIES 30 938 TOTAL LIABILITIES 61 829 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 74 005
118 Annual Report 2003 Leasing Company Balance Sheets and Income Statements TUNISIAN LEASING UNION
OPERATING INCOME AMOUNT STATEMENT OF INCOME Gross income from leasing 47 409 AS AT 31 DECEMBER Interest overdue 0 2003 Transferred from reserves 0 (in thousand dinars) Allotment for depreciation of assets being rented (-) (39 619)
TOTAL OPERATING INCOME 7 790
Net financial charges 4 548 Income from investments 19
NET PROCEEDS 3 261
OPERATING EXPENSES AMOUNT Supply stocks 38 Staff costs 1 116 Allotment for depreciation 175 Allotment for reserves 1 244 Other operating expenses 525 Other operating income 410
TOTAL OPERATING EXPENSES 2 688
OPERATING PROFIT OR LOSS 573
Other ordinary profits 209 Other ordinary losses 67
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 715
Tax on profits 106 Transferred from reserves 0
POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 609
Extraordinary items 0
NET PROFIT OR LOSS FOR THE YEAR 609
Leasing Company Balance Sheets and Income Statements Annual Report 2003 119 INTERNATIONAL LEASING COMPANY
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 34 Depreciation (-) (22) Net intangible assets 12 Assets used by the firm 7 915 Depreciation (-) (957) Net tangible assets 6 958 Assets earmarked for rent (leasing) 312 107 Depreciation (-) (163 643) Net assets earmarked for rent 148 464 Financial assets 2 044 Reserves (-) (200) Net financial assets 1 844 Other non current assets 274 TOTAL NON CURRENT ASSETS 157 552 CURRENT ASSETS Clients and related accounts 18 872 Put aside for reserves and charges (-) (11 370) Clients and net related accounts 7 502 Other current assets 1 672 Investments and other financial assets 491 Cash and near cash 2 814 TOTAL CURRENT ASSETS 12 479 TOTAL ASSETS 170 031 SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 10 000 Reserves 9 542 Other equity (142) Income carried forward 441 PRE-PROFIT SHAREHOLDERS’ EQUITY 19 841 Net financial year profit 1 775 TOTAL SHAREHOLDERS’ EQUITY 21 616 LIABILITIES AMOUNT NON CURRENT LIABILITIES Loans 71 154 Other financial liabilities 4 231 Reserves (+) 135 TOTAL NON CURRENT LIABILITIES 75 520 CURRENT LIABILITIES Suppliers and related accounts 5 511 Other current liabilities 4 579 Bank financing 62 805 TOTAL CURRENT LIABILITIES 72 895 TOTAL LIABILITIES 148 415 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 170 031
120 Annual Report 2003 Leasing Company Balance Sheets and Income Statements INTERNATIONAL LEASING COMPANY
OPERATING INCOME AMOUNT STATEMENT OF INCOME Gross income from leasing 70 500 AS AT 31 DECEMBER Transferred from reserves (566) 2003 Allotment for depreciation of assets being rented (-) (54 006) (in thousand dinars) Other operating income 1 407
TOTAL OPERATING INCOME 17 335
Net financial charges 9 822 Income from investments 339
NET PROCEEDS 7 852
OPERATING EXPENSES AMOUNT Staff costs 1 414 Allotment for depreciation 436 Allotment for reserves 3 063 Other operating expenses 748 TOTAL OPERATING EXPENSES 5 661
OPERATING PROFIT OR LOSS 2 191
Other ordinary profits 70 Other ordinary losses 20
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 2 241
Tax on profits 637 Transferred from reserves 171
POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 1 775
Extraordinary items 0
NET PROFIT OR LOSS FOR THE YEAR 1 775
Leasing Company Balance Sheets and Income Statements Annual Report 2003 121 ARAB TUNISIAN LEASE
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 109 Depreciation (-) (105) Net intangible assets 4 Assets used by the firm 4 399 Depreciation (-) (784) Net tangible assets 3 615 Assets earmarked for rent (leasing) 280 403 Depreciation (-) (154 318) Net assets earmarked for rent 126 085 Financial assets 7 351 Reserves (-) (150) Net financial assets 7 201 Other non current assets 136 TOTAL NON CURRENT ASSETS 137 041 CURRENT ASSETS Clients and related accounts 16 768 Put aside for reserves and charges (-) (8 348) Clients and net related accounts 8 420 Other current assets 1 356 Reserves (-) (12) Other current assets 1 344 Investments and other financial assets 3 067 Cash and near cash 5 524 TOTAL CURRENT ASSETS 18 355 TOTAL ASSETS 155 396 SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 10 000 Reserves 9 442 Other equity 0 Income carried forward 1 186 PRE-PROFIT SHAREHOLDERS’ EQUITY 20 628 Net financial year profit 2 285 TOTAL SHAREHOLDERS’ EQUITY 22 913 LIABILITIES AMOUNT NON CURRENT LIABILITIES Loans 53 563 Reserves (+) 129 TOTAL NON CURRENT LIABILITIES 53 692 CURRENT LIABILITIES Suppliers and related accounts 7 469 Other current liabilities 6 973 Bank financing and other financial liabilities 64 349 TOTAL CURRENT LIABILITIES 78 791 TOTAL LIABILITIES 132 483 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 155 396
122 Annual Report 2003 Leasing Company Balance Sheets and Income Statements ARAB TUNISIAN LEASE
OPERATING INCOME AMOUNT STATEMENT OF INCOME Gross income from leasing 74 357 AS AT 31 DECEMBER Interest overdue and other operating income 838 2003 Transferred from reserves (477) (in thousand dinars) Allotment for depreciation of assets being rented (-) (59 379)
TOTAL OPERATING INCOME 15 339
Net financial charges 7 885 Income from investments 472
NET PROCEEDS 7 926
OPERATING EXPENSES AMOUNT Staff costs 1 694 Allotment for depreciation 405 Allotment for reserves 1 841 Other operating expenses 1 134 TOTAL OPERATING EXPENSES 5 074
OPERATING PROFIT OR LOSS 2 852
Other ordinary profits 144 Other ordinary losses 16
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 2 980
Tax on profits 695
POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 2 285
Extraordinary items 0
NET PROFIT OR LOSS FOR THE YEAR 2 285
Leasing Company Balance Sheets and Income Statements Annual Report 2003 123 AMEN LEASE
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 88 Depreciation (-) (84) Net intangible assets 4 Assets used by the firm 3 189 Depreciation (-) (786) Net tangible assets 2 403 Assets earmarked for rent (leasing) 291 284 Depreciation (-) (145 466) Net assets earmarked for rent 145 818 Financial assets 4 117 Reserves (-) (93) Net financial assets 4 024 Other non current assets 428 TOTAL NON CURRENT ASSETS 152 677 CURRENT ASSETS Clients and related accounts 18 512 Put aside for reserves and charges (-) (11 660) Clients and net related accounts 6 852 Other current assets 2 508 Investments and other financial assets 9 Cash and near cash 2 136 TOTAL CURRENT ASSETS 11 505
TOTAL ASSETS 164 182
SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 10 000 Reserves 5 097 Other equity 0 Income carried forward 98 PRE-PROFIT SHAREHOLDERS’ EQUITY 15 195 Net financial year profit 237 TOTAL SHAREHOLDERS’ EQUITY 15 432 LIABILITIES AMOUNT NON CURRENT LIABILITIES Loans 85 099 Other financial liabilities 31 Reserves (+) 850 TOTAL NON CURRENT LIABILITIES 85 980 CURRENT LIABILITIES Suppliers and related accounts 4 298 Other current liabilities 7 136 Bank financing 51 336
TOTAL CURRENT LIABILITIES 62 770 TOTAL LIABILITIES 148 750 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 164 182 124 Annual Report 2003 Leasing Company Balance Sheets and Income Statements AMEN LEASE
OPERATING INCOME AMOUNT STATEMENT OF INCOME Gross income from leasing 61 942 AS AT 31 DECEMBER Interest overdue 0 2003 Transferred from reserves (922) (in thousand dinars) Allotment for depreciation of assets being rented (-) (47 580) Other operating income 864
TOTAL OPERATING INCOME 14 304
Net financial charges 10 655 Income from investments 464
NET PROCEEDS 4 113
OPERATING EXPENSES AMOUNT Staff costs 983 Allotment for depreciation 67 Allotment for reserves 2 321 Other operating expenses 818 TOTAL OPERATING EXPENSES 4 189
OPERATING PROFIT OR LOSS (76)
Other ordinary profits 315 Other ordinary losses 0
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 239
Tax on profits 2
POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 237
Extraordinary items 0
NET PROFIT OR LOSS FOR THE YEAR 237
Leasing Company Balance Sheets and Income Statements Annual Report 2003 125 ARAB INTERNATIONAL LEASE
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 50 Depreciation (-) (49) Net intangible assets 1 Assets used by the firm 260 Depreciation (-) (96) Net tangible assets 164 Assets earmarked for rent (leasing) 80 854 Depreciation (-) (46 477) Net assets earmarked for rent 34 377 Financial assets 1 237 Reserves (-) 0 Net financial assets 1 237 Other non current assets 89 TOTAL NON CURRENT ASSETS 35 868 CURRENT ASSETS Clients and related accounts 7 852 Put aside for reserves and charges (-) (4 845) Clients and net related accounts 3 007 Other current assets 835 Investments and other financial assets 9 Cash and near cash 1 839 TOTAL CURRENT ASSETS 5 690 TOTAL ASSETS 41 558
SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 10 000 Reserves 961 Other equity 0 Income carried forward - 894 PRE-PROFIT SHAREHOLDERS’ EQUITY 10 067 Net financial year profit 102 TOTAL SHAREHOLDERS’ EQUITY 10 169 LIABILITIES AMOUNT NON CURRENT LIABILITIES Loans 19 728 Other financial liabilities 109 Reserves (+) 0 TOTAL NON CURRENT LIABILITIES 19 837 CURRENT LIABILITIES Suppliers and related accounts 770 Other current liabilities 2 096 Bank financing and other financial liabilities 8 686
TOTAL CURRENT LIABILITIES 11 552 TOTAL LIABILITIES 31 389 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 41 558 126 Annual Report 2003 Leasing Company Balance Sheets and Income Statements ARAB INTERNATIONAL LEASE
OPERATING INCOME AMOUNT STATEMENT OF INCOME Gross income from leasing 19 144 AS AT 31 DECEMBER Transferred from reserves 108 2003 Allotment for depreciation of assets being rented (-) (15 485) (in thousand dinars) Other operating income 170
TOTAL OPERATING INCOME 3 937
Net financial charges 2 206 Income from investments 48
NET PROCEEDS 1 779
OPERATING EXPENSES AMOUNT Staff costs 473 Allotment for depreciation 33 Allotment for reserves 872 Other operating expenses 319 TOTAL OPERATING EXPENSES 1 697
OPERATING PROFIT OR LOSS 82
Other ordinary profits 134 Other ordinary losses 13
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 203
Tax on profits 101
POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 102
Extraordinary items 0
NET PROFIT OR LOSS FOR THE YEAR 102
Leasing Company Balance Sheets and Income Statements Annual Report 2003 127 MODERN LEASING
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 299 Depreciation (-) (138) Net intangible assets 161 Assets used by the firm 1 730 Depreciation (-) (221) Net tangible assets 1 509 Assets earmarked for rent (leasing) 83 060 Depreciation (-) (46 687) Net assets earmarked for rent 36 373 Tied up assets (leasing) 474 Financial assets 1 954 Reserves (-) (224) Net financial assets 1 730 Other financial assets 118 Other non current assets 51 TOTAL NON CURRENT ASSETS 40 416
CURRENT ASSETS Clients and related accounts 7 716 Put aside for reserves and charges (-) (5 011) Clients and net related accounts 2 705 Other current assets 297 Investments and other financial assets 9 436 Cash and near cash 1 864 TOTAL CURRENT ASSETS 14 302
TOTAL ASSETS 54 718 SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 7 000 Reserves 2 589 Other equity 0 Income carried forward -2 055 PRE-PROFIT SHAREHOLDERS’ EQUITY 7 534 Net financial year profit -890 TOTAL SHAREHOLDERS’ EQUITY 6 644 LIABILITIES AMOUNT NON CURRENT LIABILITIES Loans 36 489 Reserves (+) 90 TOTAL NON CURRENT LIABILITIES 36 579 CURRENT LIABILITIES Suppliers and related accounts 1 778 Other current liabilities 1 706 Bank financing and other financial liabilities 8 011 TOTAL CURRENT LIABILITIES 11 495 TOTAL LIABILITIES 48 074 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 54 718 128 Annual Report 2003 Leasing Company Balance Sheets and Income Statements MODERN LEASING
OPERATING INCOME AMOUNT STATEMENT OF INCOME Gross income from leasing 22 805 AS AT 31 DECEMBER Transferred from reserves (337) 2003 Allotment for depreciation of assets being rented (-) (18 444) (in thousand dinars) Other operating income 289
TOTAL OPERATING INCOME 4 313
Net financial charges 3 197 Income from investments 337
NET PROCEEDS 1 453
OPERATING EXPENSES AMOUNT
Staff costs 580 Allotment for depreciation 154 Allotment for reserves 926 Other operating expenses 607 TOTAL OPERATING EXPENSES 2 267
OPERATING PROFIT OR LOSS (814)
Other ordinary profits 59 Other ordinary losses 102
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES (857)
Tax on profits 33
POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES (890)
Extraordinary items 0
NET PROFIT OR LOSS FOR THE YEAR (890)
Leasing Company Balance Sheets and Income Statements Annual Report 2003 129 HANNIBAL LEASE
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 65 Depreciation (-) (44) Net intangible assets 21 Assets used by the firm 259 Depreciation (-) (94) Net tangible assets 165 Assets earmarked for rent (leasing) 37 003 Depreciation (-) (11 187) Net assets earmarked for rent 25 816 Financial assets 85 Reserves (-) 0 Net financial assets 85 Other non current assets 224 TOTAL NON CURRENT ASSETS 26 311
CURRENT ASSETS Clients and related accounts 1 599 Put aside for reserves and charges (-) (667) Clients and net related accounts 932 Other current assets 1 623 Investments and other financial assets 1 050 Cash and near cash 812
TOTAL CURRENT ASSETS 4 417
TOTAL ASSETS 30 728 SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 4 306 Reserves 0 Other equity 0 Income carried forward -222 PRE-PROFIT SHAREHOLDERS’ EQUITY 4 084 Net financial year profit -714 TOTAL SHAREHOLDERS’ EQUITY 3 370 LIABILITIES AMOUNT NON CURRENT LIABILITIES Loans 15 275 Reserves (+) 0 TOTAL NON CURRENT LIABILITIES 15 275 CURRENT LIABILITIES Suppliers and related accounts 2 672 Other current liabilities 684 Bank financing and other financial liabilities 8 727 TOTAL CURRENT LIABILITIES 12 083 TOTAL LIABILITIES 27 358 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 30 728
130 Annual Report 2003 Leasing Company Balance Sheets and Income Statements HANNIBAL LEASE
OPERATING INCOME AMOUNT STATEMENT OF INCOME Gross income from leasing 9 403 AS AT 31 DECEMBER Allotment for depreciation of assets being rented (-) (7 136) 2003 NET INCOME FROM LEASING 2 267 (in thousand dinars) Other operating income 66 Transferred from reserves 76 TOTAL OPERATING INCOME 2 409
OPERATING EXPENSES AMOUNT
Staff costs 204 Allotment for depreciation 131 Allotment for reserves 1 075 Other operating expenses 265 TOTAL OPERATING EXPENSES 1 675
OPERATING PROFIT OR LOSS 734
Net financial charges 1 430 Income from investments 21 Other ordinary profits 0 Other ordinary losses 25
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES (700)
Tax on profits 14
POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES (714)
Extraordinary items 0
NET PROFIT OR LOSS FOR THE YEAR (714)
Leasing Company Balance Sheets and Income Statements Annual Report 2003 131 EL WIFACK LEASING
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 69 Depreciation (-) (21) Net intangible assets 48 Assets used by the firm 225 Depreciation (-) (32) Net tangible assets 193 Assets earmarked for rent (leasing) 10 477 Depreciation (-) (2 863) Net assets earmarked for rent 7 614 Financial assets 266 Reserves (-) (0) Net financial assets 266 Other non current assets 11 TOTAL NON CURRENT ASSETS 8 132 CURRENT ASSETS Clients and related accounts 21 Put aside for reserves and charges (-) (0) Clients and net related accounts 21 Other current assets 567 Investments and other financial assets 36 Cash and near cash 778 TOTAL CURRENT ASSETS 1 402 TOTAL ASSETS 9 534
SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 5 000 Reserves 5 Other equity 0 Income carried forward 95 PRE-PROFIT SHAREHOLDERS’ EQUITY 5 100 Net financial year profit 343
TOTAL SHAREHOLDERS’ EQUITY 5 443 LIABILITIES AMOUNT NON CURRENT LIABILITIES Loans 1 566 Reserves (+) 0 TOTAL NON CURRENT LIABILITIES 1 566
CURRENT LIABILITIES Suppliers and related accounts 1 517 Other current liabilities 645 Bank financing and other financial liabilities 363
TOTAL CURRENT LIABILITIES 2 525 TOTAL LIABILITIES 4 091
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 9 534 132 Annual Report 2003 Leasing Company Balance Sheets and Income Statements EL WIFACK LEASING
OPERATING INCOME AMOUNT STATEMENT OF Gross income from leasing 2 850 INCOME Allotment for depreciation of assets being rented (-) (2 204) AS AT 31 DECEMBER NET INCOME FROM LEASING 646 2003 Other operating income 10 (in thousand dinars)
TOTAL OPERATING INCOME 656
OPERATING EXPENSES AMOUNT
Staff costs 110 Allotment for depreciation 57 Allotment for reserves 0 Other operating expenses 125 TOTAL OPERATING EXPENSES 292
OPERATING PROFIT OR LOSS 364
Net financial charges 49 Income from investments 72 Other ordinary profits 0 Other ordinary losses 0
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 387 Tax on profits 44 POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 343
Extraordinary items 0 NET PROFIT OR LOSS FOR THE YEAR 343
Leasing Company Balance Sheets and Income Statements Annual Report 2003 133 FACTORING COMPANY BALANCE SHEETS AND INCOME STATEMENTS TUNISIA FACTORING
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 1 372 Depreciation (-) (394) Net intangible assets 978 Assets used by the firm 396 Depreciation (-) (199) Net tangible assets 197 Financial assets 2 175 Reserves (-) (0) Net financial assets 2 175 Other non current assets 93 TOTAL NON CURRENT ASSETS 3 443
CURRENT ASSETS Factored purchasers 49 747 Put aside for reserves and charges (1 394) Net factored purchasers 48 353 Other current assets 189 Investments and other financial assets 12 750 Cash and near cash 0 TOTAL CURRENT ASSETS 61 292
TOTAL ASSETS 64 735
SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 4 400 Legal reserves 131 Other equity 0 Income carried forward 1 312 PRE-PROFIT SHAREHOLDERS’ EQUITY 5 843 Net financial year profit 1 017
TOTAL SHAREHOLDERS’ EQUITY 6 860
LIABILITIES AMOUNT NON CURRENT LIABILITIES Loans 9 819 Reserves 1 875 TOTAL NON CURRENT LIABILITIES 11 694
CURRENT LIABILITIES Member current accounts and related accounts 14 441 Other current liabilities 1 144 Bank financing and other financial liabilities 30 596 TOTAL CURRENT LIABILITIES 46 181 TOTAL LIABILITIES 57 875 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 64 735
136 Annual Report 2003 Factoring Company Balance Sheets and Income Statements TUNISIA FACTORING
OPERATING INCOME AMOUNT STATEMENT OF INCOME Factoring fees 1 968 AS AT 31 DECEMBER Interest on financing 3 151 2003 (in thousand dinars) TOTAL OPERATING INCOME 5 119 Net financial charges 1 751
NET PROCEEDS 3 368
OPERATING EXPENSES AMOUNT
Staff costs 731 Allotment for depreciation 202 Allotment for reserves 612 Other operating expenses 560 TOTAL OPERATING EXPENSES 2 105
OPERATING PROFIT OR LOSS 1 263
Income from investments 66 Other ordinary profits 7
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 1 336 Tax on profits 319
POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 1 017
Extraordinary items 0
NET PROFIT OR LOSS FOR THE YEAR 1 017
Factoring Company Balance Sheets and Income Statements Annual Report 2003 137 UNIFACTOR
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 NON CURRENT ASSETS (in thousand dinars) Intangible assets 54 Depreciation (-) (51) Net intangible assets 3 Assets used by the firm 208 Depreciation (-) (71) Net tangible assets 137 Financial assets 1 Reserves (-) (0) Net financial assets 1 Other non current assets 0
TOTAL NON CURRENT ASSETS 141 CURRENT ASSETS Factored purchasers and related accounts 31 338 Put aside for reserves and charges (-) (1 172) Clients and net related accounts 30 166 Other current assets 231 Cash and near cash 364 TOTAL CURRENT ASSETS 30 761
TOTAL ASSETS 30 902
SHAREHOLDERS’ EQUITY AND LIABILITIES AMOUNT SHAREHOLDERS’ EQUITY AMOUNT Share capital 6 000 Legal reserves 19 Income carried forward 124 PRE-PROFIT SHAREHOLDERS’ EQUITY 6 143 Net financial year profit 414 TOTAL SHAREHOLDERS’ EQUITY 6 557
LIABILITIES AMOUNT NON CURRENT LIABILITIES Guarantee fund 3 558 Reserves 128 TOTAL NON CURRENT LIABILITIES 3 686
CURRENT LIABILITIES Member and related accounts 1 278 Other current liabilities 1 163 Bank financing and other liabilities 18 218 TOTAL CURRENT LIABILITIES 20 659 TOTAL LIABILITIES 24 345 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 30 902
138 Annual Report 2003 Factoring Company Balance Sheets and Income Statements UNIFACTOR
OPERATING INCOME OF FACTORING AMOUNT STATEMENT OF INCOME Factoring fees 762 AS AT 31 DECEMBER Financial income of mobilization 2 240 2003 (in thousand dinars) TOTAL OPERATING INCOME 3 002 Net financial charges 1 048 Icome from investments 0 NET PROCEEDS OF FACTORING 1 954
OPERATING EXPENSES AMOUNT
Overheads 712 Allotments to depreciation and reserves 78 Factoring account 407 Other operating expenses 32 TOTAL OPERATING EXPENSES 1 165
OPERATING PROFIT OR LOSS 789
Other ordinary profits 0 Other ordinary losses 0
PRE-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 789
Tax on profits 375
POST-TAX PROFIT OR LOSS FROM REGULAR ACTIVITIES 414
Extraordinary items 0
NET PROFIT OR LOSS FOR THE YEAR 414
Factoring Company Balance Sheets and Income Statements Annual Report 2003 139 OTHER MEMBERS BALANCE SHEETS AND INCOME STATEMENTS NORTH AFRICA INTERNATIONAL BANK
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 2 956 (in thousand dinars) Claims on banking and financial establishments 65 598 Claims on clients 80 982 Commercial securities portfolio 7 560 Investment portfolio 0 Fixed assets 4 340 Other assets 2 204
TOTAL ASSETS 163 640
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 354 Deposits and assets of banking and financial establishments 72 161 Clients’ deposits and assets 30 853 Borrowings and special resources 0 Other liabilities 1 975
TOTAL LIABILITIES 105 343
CAPITAL STOCK AMOUNT Capital 36 390 Reserves 19 296 Other capital stock 0 Income carried forward 1 337 Banking proceeds 1 274
TOTAL CAPITAL STOCK 58 297
TOTAL LIABILITIES AND CAPITAL STOCK 163 640
OFF BALANCE SHEET ITEMS POSSIBLE LIABILITIES AMOUNT Guarantees, aval facilities and other guarantees given 20 913 Documentary credit 39 870
TOTAL POSSIBLE LIABILITIES 60 783
CONTINGENCIES GIVEN AMOUNT
Contingencies of given financing 58 486 Contingencies on securities 0
TOTAL CONTINGENCIES GIVEN 58 486
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 2 817 Guarantees received 0
TOTAL CONTINGENCIES RECEIVED 2 817
142 Annual Report 2003 Other Members Balance Sheets and Income Statements NORTH AFRICA INTERNATIONAL BANK
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 5 210 AS AT 31 DECEMBER Commissions (in proceeds) 3 346 2003 Earnings on commercial securities portfolio and financial transactions 329 (in thousand dinars) Revenues from investment securities portfolio 0
TOTAL BANK OPERATING PROCEEDS 8 885 BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 1 351 Commissions incurred 79 Loss on commercial securities portfolio and financial transactions 0
TOTAL BANK OPERATING CHARGES 1 430
NET BANKING PROCEEDS 7 455 Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 2 208 Endowments for provisions and result of correction of assets, on investment portfolio 50 Other operating products 0 Wage bill 2 280 General operating charges 1 059 Endowments for amortization and for provisions on fixed assets 308
OPERATING RESULT 1 550
Balance in gain / loss from other ordinary items 0 Tax on profits 276
RESULT OF CURRENT ACTIVITIES 1 274
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME 1 274
* 1USD = 1,2130 TND (quotation as at 31/12/2003)
Other Members Balance Sheets and Income Statements Annual Report 2003 143 TUNISIAN BUSINESS BANK
BALANCE SHEET ASSETS AMOUNT AS AT 31 DECEMBER 2003 Cash and assets to BCT, CCP & TGT 0 (in thousand dinars) Claims on banking and financial establishments 1 510 Claims on clients 70 Commercial securities portfolio 1 563 Investment portfolio 0 Fixed assets 77 Other assets 416
TOTAL ASSETS 3 636
LIABILITIES AMOUNT
Central Bank of Tunisia & CCP 0 Deposits and assets of banking and financial establishments 0 Clients’ deposits and assets 0 Borrowings and special resources 0 Other liabilities 166
TOTAL LIABILITIES 166
CAPITAL STOCK AMOUNT
Capital 4 500 Reserves 0 Other capital stock 0 Income carried forward -858 Banking proceeds -172
TOTAL CAPITAL STOCK 3 470
TOTAL LIABILITIES AND CAPITAL STOCK 3 636
OFF BALANCE SHEET ITEMS
POSSIBLE LIABILITIES AMOUNT
Guarantees, aval facilities and other guarantees given 0 Documentary credit 0
TOTAL POSSIBLE LIABILITIES 0
CONTINGENCIES GIVEN AMOUNT Contingencies of financing given Contingencies on securities 0 0 TOTAL CONTINGENCIES GIVEN 0
CONTINGENCIES RECEIVED AMOUNT Contingencies of financing received 0 Guarantees received 0 TOTAL CONTINGENCIES RECEIVED 0
144 Annual Report 2003 Other Members Balance Sheets and Income Statements TUNISIAN BUSINESS BANK
BANK OPERATING PROCEEDS AMOUNT STATEMENT OF INCOME Interests on loans and similar revenues 91 AS AT 31 DECEMBER Commissions 181 2003 Earnings on commercial securities portfolio and financial transactions 108 (in thousand dinars) Investment portfolio revenues 0
TOTAL BANK OPERATING PROCEEDS 380
BANK OPERATING CHARGES AMOUNT
Interests incurred and similar charges 0 Commissions incurred 0
TOTAL BANK OPERATING CHARGES 0
NET BANKING PROCEEDS 380 Endowments for provisions and result of correction of assets on claims, off balance sheet items and liabilities 130 Other operating products 0 Wage bill 247 General operating charges 159 Endowments for amortization and for provisions on fixed assets 20
OPERATING RESULT (176)
Balance in gain / loss from other ordinary items 5 Tax on profits 1
RESULT OF CURRENT ACTIVITIES (172)
Balance in gain / loss from extraordinary items 0
NET FISCAL YEAR INCOME (172)
Other Members Balance Sheets and Income Statements Annual Report 2003 145 DEPOSIT BANK NETWORKS NATIONAL AGRICULTURAL BANK
BRANCHES, AGENCIES, TOWN OR OFFICES NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX AS AT 31 DECEMBER 2003 (SC) Succursale Med V. Suc Tunis Tunis RUE HEDI NOUIRA (71) 832.168 835.751
DIR. REG. TUNIS NORD RUE MOKHTAR ATTIA (71) 341.017 341.020 (A) TUNIS HILTON TUNIS TUNIS 17,18,19,PLACE TANIT (71) 780.186 789.308 (S) AV.DE PARIS TUNIS TUNIS 19, AV. DE PARIS (71) 345.938 341.024 (A) LA FAYETTE TUNIS TUNIS 61,AV.DE LA LIBERTE (71) 831.545 834.172 (A) AV.DE LONDRES TUNIS TUNIS 16,AV.DE LONDRES (71) 253.751 341.705 (A) CHARGUIA TUNIS CHARGUIA RUE 8069 ZONE INDUS. (71) 705.919 705.583 (A) ALAIN SAVARY TUNIS TUNIS 39,AV.ALAIN SAVARY (71) 783.037 790.626 (A) KHEREDDINE P. TUNIS TUNIS 12,AV.KHEREDDINE PACHA (71) 781.385 784.159 (A) LE BARDO TUNIS LE BARDO BOULEVARD 9 MARS (71) 517.422 501.203 (A) BAB SOUIKA TUNIS TUNIS PLACE BAB SOUIKA (71) 571.388 571.409 (A) ARIANA ARIANA ARIANA 18,AV.H. BOURGUIBA (71) 713.843 712.902 (A) EL MENZEH 9 ARIANA EL MENZEH 9 COMPLEX AIDA CENTER (71) 880.677 880.666 (B) ENNASR II ARIANA TUNIS RUE HEDI NOUIRA -RESIDENCE LE PALACE (71) 828.655 (A) TEBOURBA MANOUBA TEBOURBA 10,AV.F.HACHED (71) 530.020 531.500 (A) MORNAGUIA MANOUBA MORNAGUIA AV.H. BOURGUIBA (71) 540.152 540.759 (A) OUED ELLIL MANOUBA OUED ELLIL AV.H. BOURGUIBA (71) 535.430 535.700 (A) DENDEN MANOUBA DENDEN GLRIE COMM.DU MAGASIN GENERAL (71) 518.332 500.871
DIR. REG. TUNIS SUD RUE MOKHTAR ATTIA (71) 341.018 341.019 (A) TUNIS «A» TUNIS TUNIS 12 BIS, RUE EL DJAZIRA (71) 242.148 342.408 (A) TUNIS «B» TUNIS TUNIS 44 AV.DE CARTHAGE (71) 240.054 344.642 (A) LA GOULETTE TUNIS LA GOULETTE OFFICE DES PORTS (71) 736.716 736.226 (A) TUNIS PORT TUNIS TUNIS 10 PLACE MONCEF BEY (71) 255.574 258.629 (A) INTER.TUNISIA TUNIS TUNIS AV. H.BOURGUIBA (71) 341.205 341.201 (A) BEN AROUS BEN AROUS BEN AROUS AV. H.BOURGUIBA (71) 383.987 385.044 (A) MORNAG BEN AROUS MORNAG AV. FARHAT HACHED (71) 360.380 360.088 (A) M’HAMEDIA BEN AROUS M’HAMEDIA AV. H.BOURGUIBA (71) 394.400 394.400 (A) EZZAHRA BEN AROUS EZZAHRA CITE EL HABIB.AV.T.M’HIRI (71) 482.438 453.360 (A) BIR EL KASSAA BEN AROUS NAASSEN MARCHE DE GROS (71) 383.200 385.737 (B) RADÉS PORT BEN AROUS RADÉS ZONE PORTUAIRE (71) 448.554 448 554 (A) PONT DU FAHS ZAGHOUAN EL FAHS AV. H.BOURGUIBA (72) 670.012 670.707 (A) ZAGHOUAN ZAGHOUAN ZAGHOUAN AV. H.BOURGUIBA (72) 675.438 676.599
DIR. REG. BIZERTE RUE MONGI SLIM (72) 430.111 433.373 (A) BIZERTE BIZERTE BIZERTE RUE MONGI SLIM (72) 431.669 443.766 (A) MATEUR BIZERTE MATEUR PLACE DE TUNIS (72) 465.002 466.508 (A) MENZEL BOURGUIBA BIZERTE ML.BOURGUIBA AV.DU 3 AOUT (72) 464.519 460.805 (A) RAS DJEBEL BIZERTE RAS DJEBEL RUE DU TRIBUNAL (72) 447.075 447.866 (A) SEDJNÈNE BIZERTE SEDJNÈNE AV. H.BOURGUIBA (72) 469.192 469.266 (A) EL ALIA BIZERTE EL ALIA AV. H.BOURGUIBA (72) 442.790 442.033 (A) ZARZOUNA BIZERTE BIZERTE RUE DU PONT (72) 590.400 592.333
DIR. REG. NABEUL RUE ALI ZOUAOUI (72) 286.380 287.552 (A) SOLIMAN NABEUL SOLIMAN AV.H. BOURGUIBA (72) 290.172 290.792 (A) BENI KHIAR NABEUL BENI KHIAR AV.H. BOURGUIBA (72) 229.765 228.188 148 Annual Report 2003 Deposit Bank Networks NATIONAL AGRICULTURAL BANK
TOWN OR BRANCHES, AGENCIES, NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX OFFICES AS AT 31 (A) BENI KHALLED NABEUL BENI KHALLED COMP.COMMERCIAL (72) 292.357 292.997 DECEMBER 2003 (A) NABEUL NABEUL NABEUL NÉAPOLIS CENTER-AV.FRANCE (72) 285.012 224.194 (A) GROMBALIA NABEUL GROMBALIA AV.H. BOURGUIBA (72) 255.158 256.531 (A) HAMMAMET NABEUL HAMMAMET AV.H. BOURGUIBA (72) 280.129 281.281 (A) MENZEL TEMIME NABEUL ML.TEMIME RUE SALEM JENDOUBI (72) 298.054 299.641 (A) KELIBIA NABEUL KELIBIA PLACE DE LA REPUBLIQUE (72) 296.078 273.097 (A) KORBA NABEUL KORBA AV.H. BOURGUIBA (72) 288.554 289.643 (A) MENZEL BOUZELFA NABEUL ML.BOUZELFA PLACE DE L’INDÉPENDANCE (72) 292.166 253.495 (A) EL HAOUARIA NABEUL EL HAOUARIA AV.H. BOURGUIBA (72) 297.058 297.298 (A) BOUARGOUB NABEUL BOUARGOUB AV. ALI BELHAOUENE (72) 259.572 259.710 (A) NABEUL II NABEUL NABEUL AV. HABIB BOURGUIBA (72) 285.270 224.238 (A) EL MIDA NABEUL EL MIDA AV. HABIB BOURGUIBA (72) 297.522 297.679
DIR. REG. SOUSSE AV. H. BOURGUIBA (73) 224.322 224.871 (A) SOUSSE SOUSSE SOUSSE AV. H. BOURGUIBA (73) 225.166 225.718 (A) M’SAKEN SOUSSE M’SAKEN CITE COMMERCIALE (73) 259.087 257.083 (A) KALAA KEBIRA SOUSSE K.KEBIRA RUE 18 JANVIER 1952 (73) 253.028 253.888 (A) ENFIDHA SOUSSE ENFIDHA AV.DE LA REPUBLIQUE (73) 250.027 250.311 (A) SOUSSE REPUB. SOUSSE SOUSSE 51,AV.DE LA REPUBLIQUE (73) 228.133 228.819 (A) HAMMAM SOUSSE SOUSSE H.SOUSSE COMP.COMMERCIAL (73) 241.285 244.337 (A) SOUSSE-PORT SOUSSE SOUSSE AV.MOHAMED V. (73) 228.755 228.756 (A) SOUSSE MEDINA SOUSSE SOUSSE AV.DE PARIS-SOUSSE (73) 228.055 228.692 (A) SOUSSE BOUJAAFAR SOUSSE SOUSSE SOUSSE CENTRE (73) 229.913 229.065 (A) PORT EL KANTAOUI SOUSSE HAMMAM SOUSSE LES MAISONS DE LA MER HAMMAM SOUSSE(71) 346.137 346.178
DIR. REG. MONASTIR RUE DE LEADER (73) 460.291 464.722 (A) MAHDIA MAHDIA MAHDIA PLACE DE L’INDEPENDANCE (73) 681.055 696.952 (A) EL DJEM MAHDIA EL DJEM ROUTE DE SFAX (73) 690.366 690.016 (A) KSOUR ESSEF MAHDIA KSOUR ESSEF AV. ALI BELHAOUENE (73) 685.096 684.983 (A) SOUASSI MAHDIA SOUASSI AV.DE LA LIBERTE (73) 697.181 697.160 (A) CHEBBA MAHDIA CHEBBA ANG. RUE DE PALESTINE /AV.H.BOURG. (73) 683.122 682.747 (A) MONASTIR MONASTIR MONASTIR RUE DE TRIPOLITAINS (73) 461.099 463.044 (A) MOKNINE MONASTIR MOKNINE AV.H. BOURGUIBA (73) 475.050 474.715 (A) JEMMEL MONASTIR JEMMEL RUE BECHIR SFAR (73) 486.202 487.751 (A) TEBOULBA MONASTIR TEBOULBA AV.H. BOURGUIBA (73) 479.002 479.833 (A) SAHLINE MONASTIR SAHLINE AV.ALI BELHAOUENE (73) 466.034 460.690
DIR. REG. SFAX 47, RUE HABIB MAAZOUN (74) 233.768 227.587 (S) SFAX SFAX SFAX 19,AV.TAIEB M’HIRI (74) 226.077 298.136 (A) SFAX HACHED SFAX SFAX BHAR AV.FARHAT HACHED (74) 227.431 228.886 (A) MAHRES SFAX MAHRES AV.H. BOURGUIBA (74) 290.884 290.500 (A) SFAX PORT SFAX SFAX BHAR PORT DE PECHE (74) 227.465 298.521 (A) SAKIET EDDAIER SFAX S.EDDAIER AV.H.BOURGUIBA (74) 256.356 451.315 (A) SFAX NORD SFAX SFAX 43,RUE TAHAR SFAR (74) 298.626 228.975 (A) SAKIET EZZIT SFAX S.EZZIT ROUTE DE TUNIS-GP1 (74) 250.000 254.517 (A) SFAX MEDINA SFAX SFAX RUE SIDI ALI EL KARRAY (74) 228.552 228.483 (A) CHIHIA SFAX CHIHIA ROUTE DE TENIOUR Km6 (74) 254.789 254.959
Deposit Bank Networks Annual Report 2003 149 NATIONAL AGRICULTURAL BANK
BRANCHES, AGENCIES, TOWN OR OFFICES NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX AS AT 31 DECEMBER 2003 (A) AGUEREB SFAX AGUEREB AV.HEDI CHAKER (74) 271.392 271.493 (A) EL HENCHA SFAX EL HENCHA AV.H.BOURGUIBA (74) 284.453 284.453 (A) SFAX 7 NOVEMBRE SFAX SFAX AV. 7 NOV. IMM. IBN KHALDOUN (74) 212.462
DIR. REG. GABES AV. H. BOURGUIBA (75) 273.005 272.944 (A) GABES GABES GABES AV.H.BOURGUIBA (75) 270.054 273.323 (A) MATMATA GABES MATMATA NOUVELLE MATMATA (75) 230.501 230.633 (A) MARETH GABES MARETH AV. 27 OCTOBRE (75) 236.333 236.666 (A) EL HAMMA GABES EL HAMMA AV. H. BOURGUIBA (75) 234.600 234.230 (A) KEBILI KEBILI KEBILI RUE DE LA JEUNESSE (75) 491.255 491.145
DIR. REG. MEDENINE AV.H.BOURGUIBA - MEDENINE (75) 643.921 643.924 (A) DJERBA MEDENINE DJERBA PLACE MOKHTAR ATTIA (75) 650.025 652.587 (A) ZARZIS MEDENINE ZARZIS RUE DE PALESTINE (75) 680.020 682.468 (A) BEN GUERDANE MEDENINE BEN GUERDANE PLACE DE LA DOUANE (75) 665.155 666.155 (A) MEDENINE MEDENINE MEDENINE RUE MANSOUR EL HOUCH (75) 640.313 640.621 (A) GUELLALA MEDENINE GUELLALA BNA GUELLALA (75) 656.091 656.215 (A) TATAOUINE TATAOUINE TATAOUINE COMP.TOURISTIQUE (75) 860.634 862.356
DIR. REG. GAFSA AV.TAIEB MHIRI (76) 220.769 220.388 (A) DEGUECHE TOZEUR DEGUECHE AV. HABIB BOURGUIBA (76) 420.261 420.269 (A) TOZEUR TOZEUR TOZEUR AV.FARHAT HACHED (76) 452.827 452.128 (A) GAFSA GAFSA GAFSA ROUTE DE GABÈS (76) 221.266 225.249 (A) EL GUETTAR GAFSA EL GUETTAR CITÉ COMMERCIALE (76) 246.492 246.183 (A) SNED GAFSA SNED AV.H. BOURGUIBA SNED (76) 269.201 269.301 (A) SIDI BOUZID SIDI BOUZID SIDI BOUZID RUE HOUCINE BOUZAÏENE (76) 632.179 632.835 (A) MEKNASSY SIDI BOUZID MEKNASSY AV.H. BOURGUIBA (76) 635.272 635.325 (A) BIR EL HAFAY SIDI BOUZID BIR EL HAFAY AV.H. BOURGUIBA (76) 677.386 677.386 (A) REGUEB SIDI BOUZID REGUEB AV.H.BOURGUIBA (76) 640.308 640.163
DIR. REG. KASSERINE AV. H. BOURGUIBA (77) 473.294 473.302 (A) THALA KASSERINE THALA AV.H. BOURGUIBA (77) 480.327 480.095 (A) KASSERINE KASSERINE KASSERINE AV.H. BOURGUIBA (77) 474.720 474.395 (A) SBEITLA KASSERINE SBEITLA AV.FARHAT HACHED (77) 465.327 465.822 (A) FERIANA KASSERINE FERIANA AV.H. BOURGUIBA (77) 485.347 485.328 (A) SBIBA KASSERINE SBIBA AV. HABIB BOURGUIBA (77) 488.282 488.154 (A) FOUSSANA KASSERINE FOUSSANA AV. 7 NOVEMBRE (77) 482.614 482.612
DIR. REG. KAIROUAN AV.DE LA REPUBLIQUE (77) 225.505 235.270 (A) KAIROUAN MEDINA KAIROUAN KAIROUAN AV. HABIB BOURGUIBA (77) 223.215 224.755 (A) SBIKHA KAIROUAN SBIKHA PLACE DU MARCHÉ (77) 252.070 252.218 (A) KAIROUAN KAIROUAN KAIROUAN AV. HABIB BOURGUIBA (77) 221.532 225.570 (A) HAFFOUZ KAIROUAN HAFFOUZ AV. HABIB BOURGUIBA (77) 255.056 255.005 (A) BOUHAJLA KAIROUAN BOUHAJLA PLACE DE L’INDEPENDANCE (77) 266.043 266.234 (A) EL OUSLATIA KAIROUAN EL OUSLATIA CENTRE COMMERCIAL (77) 250.288 250.260 (A) CHERARDA KAIROUAN CHERARDA CENTRE COMMERCIAL (77) 268.526 268.554
150 Annual Report 2003 Deposit Bank Networks NATIONAL AGRICULTURAL BANK
TOWN OR BRANCHES, AGENCIES, NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX OFFICES AS AT 31 (A) KAIROUAN HAJJEM KAIROUAN KAIROUAN HAJJEM CENTRE COMMERCIAL (77) 224.508 225.310 DECEMBER 2003 (A) NASRALLAH KAIROUAN NASRALLAH CITÉ COMMERCIALE H.BOURGUIBA (77) 260.117 260.114 (A) EL ALA KAIROUAN EL ALA 16, RUE 9 AVRIL (77) 256.185 256.081 (A) HADJEB EL YOUN KAIROUAN HADJEB EL YOUN CITÉ COMMERCIALE AV.7 NOVEMBRE (77) 257.296 257.287
DIR. REG.BEJA RUE ALI BELHAOUÈNE IMM.BNA-BLOC A N°01(78) 451.928 452.455 (A) BEJA BEJA BEJA AV. FARHAT HACHED (78) 450.050 453.056 (A) MEDJEZ EL BAB BEJA MZ.EL BAB AV. H. BOURGUIBA (78) 460.087 460.938 (A) TEBOURSOUK BEJA TEBOURSOUK AV. DE LA REPUBLIQUE (78) 465.400 465.447 (A) TESTOUR BEJA TESTOUR AV. H. BOURGUIBA (78) 468.029 468.132 (A) NEFZA BEJA NEFZA AV. H. BOURGUIBA (78) 470.122 470.389 (A) AMDOUN BEJA AMDOUN PLACE DE L’INDEPENDANCE (78) 469.036 469.365 (A) GOUBELLAT BEJA GOUBELLAT AV. H. BOURGUIBA (78) 453.388 462.155
DIR. REG. SILIANA IMM.BNA RUE 18 JANVIER (78) 872.303 872.305 (A) BOUARADA SILIANA BOUARADA COMP. COM.-RUE DE PALESTINE (78) 895.317 895.142 (A) SILIANA SILIANA SILIANA AV. DE L’INDÉPENDANCE (78) 871.234 871.270 (A) MAKTHAR SILIANA MAKTHAR AV.H.BOURGUIBA (78) 876.415 876.351 (A) GAAFOUR SILIANA GAAFOUR RUE OKBA IBN NAFAA (78) 897.038 897.038 (A) KRIB SILIANA KRIB AV.H. BOURGUIBA (78) 891.243 891.325 (A) ERROUHIA SILIANA ERROUHIA CENTRE COMMERCIAL (78) 893.095 893.085
DIR. REG. LE KEF RUE ALI BELHAOUENE (78) 201.441 201.748 (A) LE KEF LE KEF LE KEF RUE ALI BELHAOUENE (78) 220.004 222.998 (A) DAHMANI LE KEF DAHMANI RUE SIDI MANSOUR (78) 280.019 280.535 (A) LE SERS LE KEF LE SERS RUE TAÏEB M’HIRI (78) 282.352 282.366 (A) TAJEROUINE LE KEF TAJEROUINE AV.H.BOURGUIBA (78) 287.344 287.355 (A) JERRISSA LE KEF JERRISSA AV. H. BOURGUIBA (78) 283.288 283.263
DIR. REG. JENDOUBA AV. F. HACHED (78) 632.788 633.429 (A) BOUSALEM JENDOUBA BOUSALEM RUE DE LA MOSQUÉE (78) 649.479 638.610 (A) TABARKA JENDOUBA TABARKA AV.H. BOURGUIBA (78) 643.926 644.467 (A) JENDOUBA JENDOUBA JENDOUBA AV. FARHAT HACHED (78) 633.410 634.286 (A) AIN DRAHAM JENDOUBA AIN DRAHAM AV. HABIB BOURGUIBA (78) 655.818 655.812 (A) GHARDIMAOU JENDOUBA GHARDIMAOU AV.H. BOURGUIBA (78) 645.303 660.789 (A) FERNANA JENDOUBA FERNANA CITE COMMERCIALE (78) 641.090 641.178
Deposit Bank Networks Annual Report 2003 151 TUNISIAN BANKING COMPANY
BRANCHES, AGENCIES, TOWN OR OFFICES NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX AS AT 31 (A) AGENCE CENTRALE TUNIS TUNIS RUE HEDI NOUIRA (71) 340.162 350.497 DECEMBER 2003 (S) THAMEUR TUNIS TUNIS 1, AV. HABIB THAMEUR (71) 342.444 340.002 (A) EL JAZIRA TUNIS TUNIS MEDINA 54, RUE EL JAZIRA (71) 322.577 324.497 (A) TUNIS PORT TUNIS TUNIS BAB SOUIKA RUE ABDERRAZEK CHRAIET-P.MONCEF BEY(71) 335.337 352.668 (A) EL MANAR III. TUNIS EL MANAR AV.1 SEPTEMBRE1969- CENTRE DORRA (71) 887.858 887.999 (A) MOKHTAR ATTIA TUNIS BAB BHAR 57,RUE MOKHTAR ATTIA (71) 331.699 353.249 (A) BAB SOUIKA TUNIS BAB SOUIKA 51,AV.ALI BELHAOUANE (71) 563.116 564.580 (A) K.PACHA TUNIS TUNIS 11, AVENUE K.PACHA (71) 785.950 783.834 (A) TUNIS MEDINA TUNIS TUNIS MEDINA 48, RUE SIDI BEN ZIED (71) 560.892 565.801 (A) EL MENZAH TUNIS EL MENZAH 1, Rue ZAMAKHCHARI-CITE MAHRAJENE (71) 785.474 289.914 (A) P.DE LA VICTOIRE TUNIS TUNIS BAB BHAR ANG. RUE DE LA COMMISSION & RUE EL JAZIRA (71) 350.445 350.505 (A) LE KRAM TUNIS LE KRAM 242, AV. HABIB BOURGUIBA (71) 732.400 730.272 (A) JEAN JAURES TUNIS TUNIS 25,AV.JEAN JAURES (71) 344.814 351.812 (A) LA GARE TUNIS TUNIS GARE DE TUNIS VILLE (71) 258.856 255.033 (A) PALESTINE TUNIS TUNIS 49, RUE DE PALESTINE (71) 831.003 830.664 (A) EL MANAR II. TUNIS EL MANAR II COLISÉE SOULA - EL MANAR II (71) 883.511 883.759 (A) LA CHARGUIA TUNIS LA CHARGUIA 74,RUE 8600 Z.I.CHARGUIA I (71) 791.788 790.983 (A) LE BELVEDERE TUNIS TUNIS 23, AV.DESETATS-UNIS (71) 287.058 892.896 (A) TUNIS CARTHAGE TUNIS LA CHARGUIA AEROPORT TUNIS CARTHAGE (71) 751.400 767.726 (A) AFRICA TUNIS BAB BHAR 52,AV.HABIB BOURGUIBA (71) 336.447 337.758 (A) KHAZNADAR TUNIS BARDO AV.DE L’INDEPENDANCE (71) 511.634 501.220 (A) MOHAMED V TUNIS TUNIS AV. MOHAMED V (71) 785.322 782.874 (A) EL HRAIRIA MANOUBA EZZAHROUNI 59, RUE 4667 El HRAIRIA (71) 529.992 595.113 (A) TEBOURBA MANOUBA TEBOURBA AV. F. HACHED (71) 530.255 531.264 (A) OUED ELLIL MANOUBA MANOUBA GP 7 KM, ROUTE DE MATEUR (71) 600.660 601.905 (A) ETTADHAMEN MANOUBA MANOUBA RUE 1113 ETTADHAMEN (71) 546.442 546.899 (A) ARIANA ARIANA ARIANA 7,RUE DE LA REPUBLIQUE (71) 714.209 701.612 (A) CITE DES SCIENCES ARIANA ARIANA 34, RUE HÉDI KARRAY (71) 718.000 717.210 (A) RADES BEN AROUS RADES 81,AV.FARHAT HACHED (71) 442.200 440.277 (A) MEGRINE BEN AROUS MEGRINE PLACE 7 NOVEMBRE (71) 432.904 297.490 (A) HAMMAM-LIF BEN AROUS HAMMAM-LIF 26, AV.H. BOURGUIBA (71) 292.622 291.106 (A) FOUCHANA BEN AROUS FOUCHANA AV.DE L’INDEPENDANCE (71) 594.050 394.580 (A) BEN AROUS BEN AROUS BEN AROUS 7,AV.DE FRANCE (71) 383.433 384.958 (A) EL MOUROUJ BEN AROUS EL MOUROUJ COMPLEXE JAMAL AV.H.THAMEUR (71) 362.280 362.320 (A) ZAGHOUAN ZAGHOUAN ZAGHOUAN AV. 7 NOVEMBRE (72) 675.166 676.206 (A) EL FAHS ZAGHOUAN EL FAHS 6, RUE DE LA MOSQUÉE (72) 670.687 670.125 (A) BIZERTE BIZERTE BIZERTE 1, RUE DE BELGIQUE (72) 431.633 431.906 (A) MENZEL BOURGUIBA BIZERTE ML.BOURGUIBA RUE DE L’INDÉPENDANCE (72) 462.733 462.760 (A) SEJENANE BIZERTE SEJENANE AV.HABIB BOURGUIBA (72) 469.185 469.185 (A) RAS JEBAL BIZERTE RAS JEBAL AV.HABIB BOUGATFA (72) 447.177 447.822 (A) BIZERTE MEDINA BIZERTE BIZERTE PLACE H.SADKAOUI- VIEUX PORT BIZERTE(72) 432.258 439.168 (A) MATEUR BIZERTE MATEUR PLACE 7 NOVEMBRE (72) 466.332 466.108 (A) DAR CHAABANE NABEUL DAR CHAABANE AV.HABIB BOURGUIBA (72) 360.466 361.928 (A) GROMBALIA NABEUL GROMBALIA AV.HABIB BOURGUIBA (72) 255.342 255.742 (A) HAMMAMET NABEUL HAMMAMET 14, AV. DU KOWEIT (72) 280.053 280.839 (A) NABEUL NABEUL NABEUL AV.HABIB BOURGUIBA (72) 287.238 287.747 (A) KORBA NABEUL KORBA AVENUE HABIB BOURGUIBA (72) 384.573 384.256 (A) KELIBIA NABEUL KELIBIA AV.HABIB BOURGUIBA (72) 296.066 296.388 (A) MENZEL TEMIME NABEUL ML. TEMIME AV.MONGI SLIM (72) 344.150 344.004 (A) EL HAOUARIA NABEUL EL HAOUARIA AV.HABIB BOURGUIBA (72) 297.040 297.176 (A) NABEUL II. NABEUL NABEUL 25,AV.HABIB THAMEUR (72) 286.424 220.804 (A) BENI KHALLED NABEUL BENI KHALLED PLACE DU 23 JANVIER (72) 371.807 371.017 (A) HAMMAMET ETTAHRIR NABEUL HAMMAMET AV.DE LA LIBÉRATION (72) 283.240 283.332 (A) SOLIMAN NABEUL SOLIMAN AV.HABIB BOURGUIBA (72) 290.231 290.811 (A) YASMINE HAMMAMET NABEUL HAMMAMET SUD ESPACE A2, BOULEVARD 7 NOVEMBRE (72) 240.366 240.704 (A) SOUSSE SOUSSE SOUSSE AV.HABIB BOURGUIBA (73) 226.500 225.796 152 Annual Report 2003 Deposit Bank Networks TUNISIAN BANKING COMPANY
TOWN OR BRANCHES, AGENCIES, NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX OFFICES AS AT 31 (A) M’SAKEN SOUSSE M’SAKEN AV. HABIB BOURGUIBA (73) 259.233 258.233 (A) SOUSSE MEDINA SOUSSE SOUSSE RUE DE MALTE (73) 227.262 224.477 DECEMBER 2003 (A) KANTAOUI SOUSSE SOUSSE PORT KANTAOUI (73) 348.359 246.816 (A) SOUSSE TROCADERO SOUSSE SOUSSE RUE NACEUR BEY (73) 224.337 229.422 (A) ENFIDHA SOUSSE ENFIDHA AV.DE LA REPUBLIQUE (73) 250.433 250.433 (A) SOUSSE REPUBLIQUE SOUSSE SOUSSE AV. LEOPOLD SENGHOR (73) 226.546 226.546 (A) AKOUDA SOUSSE AKOUDA AV.DE LA REPUBLIQUE (73) 357.829 256.866 (A) HAMMAM SOUSSE SOUSSE H.SOUSSE ROUTE DE TUNIS KM 136 (73) 362.555 360.611 (A) MSAKEN II SOUSSE MSAKEN RUE N°63 IMM.HAMADI HMILA CITE EL JEDID (73) 265.732 265.715 (A) MAHDIA MAHDIA MAHDIA PLACE DU 1ER MAI (73) 681.256 696.246 (A) EL OUERDANINE MAHDIA EL OUERDANINE PLACE DU 1ER MAI (73) 519.330 519.211 (A) KSOUR ESSEF MAHDIA KSOUR ESSEF AVENUE HABIB BOURGUIBA (73) 665.030 664.462 (A) EL JEM MAHDIA EL JEM AV. TAIEB M’HIRI (73) 630.047 630.064 (A) MONASTIR MONASTIR MONASTIR AV.HABIB BOURGUIBA (73) 460.583 464.511 (A) MOKNINE MONASTIR MOKNINE AVENUE HABIB BOURGUIBA (73) 474.810 475.050 (A) KSAR HELLEL MONASTIR KSAR HELLAL AV.H. BOURGUIBA (73) 475.688 475.202 (A) JEMMAL MONASTIR JEMMAL AV.HABIB BOURGUIBA (73) 486.062 487.644 (A) MONASTIR II. MONASTIR MONASTIR AV.DU COMBATTANT SUPREME (73) 460.257 467.030 (A) KSIBET EL MEDIOUNI MONASTIR K.MEDIOUNI CITE COMMERCIALE (73) 469.931 469.097 (A) MENZEL KAMEL MONASTIR MENZEL KAMEL AVENUE HABIB BOURGUIBA (73) 480.950 480.951 (A) SFAX CHAKER SFAX SFAX VILLE AV.HEDI CHAKER -PLACE MALBURG (74) 296.800 296.811 (A) SFAX ZITOUNA SFAX SFAX NORD AV.DES MARTYRS (74) 223.196 229.313 (A) SFAX HACHED SFAX SFAX SUD 97, AV.FARHAT HACHED (74) 226.346 299.640 (A) SAKIET EZZIT SFAX SAKIET EZZIT 59, AV.HABIB BOURGUIBA (74) 251.858 254.958 (A) JEBENIANA SFAX JEBENIANA PLACE DU 2 MARS 1934 (74) 880.100 880.235 (A) SKHIRA SFAX SKHIRA AV.HABIB BOURGUIBA (74) 295.332 295.025 (A) SFAX MOULIN VILLE SFAX SFAX VILLE ROUTE DE TUNIS, KM 1,5 MOULIN VILLE (74) 216.670 237.686 (A) SFAX PORT SFAX SFAX RUE COMMANDANT BEJAOUI (74) 228.500 229.941 (A) SFAX EL JADIDA SFAX SFAX MEDINA 137, AV. 7 NOVEMBRE (74) 401.418 401.599 (A) GABES GABES GABES RUE DE BIZERTE (75) 270.688 275.050 (A) GABES CENTER GABES GABES OUEST RUE CHARLES DE GAULLE (75) 272.111 276.511 (A) MARETH GABES MARETH AV.27 OCTOBRE (75) 321.155 321.422 (A) ZARZIS MEDENINE ZARZIS 30, AV. HEDI CHAKER (75) 694.885 694.662 (A) JERBA MEDENINE JERBA 34, PLACE FARHAT HACHED (75) 650.140 650.699 (A) MEDENINE MEDENINE MEDENINE AV.HABIB BOURGUIBA (75) 642.938 641.070 (A) BEN GERDENE MEDENINE BEN GARDENE AVENUE DE TUNIS (75) 710.021 710.021 (A) JERBA MIDOUN MEDENINE J.MIDOUN AV.H.BOURGUIBA (75) 659.131 658.077 (A) DAR JERBA MEDENINE JERBA MIDOUN HOTEL DAR JERBA-Z. TOURISTIQUE (75) 745.191 745.631 (A) EL MOUANSA MEDENINE ZARZIS EL MOUANSA ZARZIS (75) 697.140 695.530 (A) TATAOUINE TATAOUINE TATAOUINE AV.HABIB BOURGUIBA (75) 860.110 861.310 (A) GHOMRASSEN TATAOUINE GHOMRASSEN AV.H. BOURGUIBA (75) 869.115 868.444 (A) KEBILI KEBILI KEBILI AV. DE LA VICTOIRE (75) 490.633 491.327 (A) DOUZ KEBILI DOUZ AV. TAÏEB M’HIRI (75) 470.021 470.011 (A) GAFSA GAFSA GAFSA SUD IMM. STB-PLACE DU MARCHE (76) 224.065 224.522 (A) METLAOUI GAFSA METLAOUI CITÉ DU PRÉSIDENT (76) 241.110 241.811 (A) SIDI BOUZID SIDI BOUZID SIDI BOUZID OUEST AV.H. BOUZAYANE (76) 632.107 633.661 (A) JELMA SIDI BOUZID JELMA RUE DE LA GARE (76) 657.376 657.255 (A) TOZEUR TOZEUR TOZEUR AV.HABIB BOURGUIBA (76) 452.017 452.319 (A) KAIROUAN KAIROUAN KAIROUAN RUE HAMDA LAOUANI (77) 230.273 231.229 (A) HAJEB LAYOUN KAIROUAN HAJEB LAYOUN RUE ALI ZOUAOUI (77) 370.018 370.018 (A) KASSERINE KASSERINE KASSERINE AV.HEDI CHAKER (77) 473.737 473.669 (A) FERIANA KASSERINE FERIANA AV.HABIB BOURGUIBA (77) 441.275 441.118 (A) BEJA BEJA BEJA 44,AV.HABIB BOURGUIBA (78) 451.691 451.475 (A) NEFZA BEJA NEFZA 21, AVENUE HABIB BOURGUIBA (78) 471.644 470.916 (A) LE KEF LE KEF LE KEF 3, RUE SALAH AYACHI (78) 202.354 200.658 (A) S.S.YOUSSEF LE KEF S.S.YOUSSEF AV.HABIB BOURGUIBA-ESSAKIA (78) 258.100 258.100 Deposit Bank Networks Annual Report 2003 153 TUNISIAN BANKING COMPANY
BRANCHES, AGENCIES, TOWN OR OFFICES NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX AS AT 31 (A) KALAAT SENANE LE KEF KALAAT SENANE 1, AV.HABIB BOURGUIBA (78) 296.150 296.150 DECEMBER 2003 (A) JENDOUBA JENDOUBA JENDOUBA PLACE DE LA REPUBLIQUE (78) 603.026 604.616 (A) AIN DRAHAM JENDOUBA AIN DRAHAM 146, AVENUE H.BOURGUIBA (78) 655.140 655.058 (A) TABARKA JENDOUBA TABARKA RUE DU PEUPLE (78) 670.412 670.589 (A) BOUSSALEM JENDOUBA BOUSSALEM 16, RUE DES JARDINS (78) 639.188 639.043 (A) SILIANA SILIANA SILIANA RUE DU 18 JANVIER (78) 872.880 872.887
BOX LOCALITY ADRESS TELEPHONE
L’AFRICA TUNIS 25, AV. HABIB BOURGUIBA (71) 330.045 TUNIS CARTHAGE TUNIS CARTHAGE AEROPORT DE TUNIS CARTHAGE (71) 840.810 PORT LA GOULETTE TUNIS PORT LA GOULETTE (71) 736.164 HAMMAMET MEDINA NABEUL HAMMAMET MEDINA (72) 280.769 VILLE ARABE HAMMAMET NABEUL VILLE ARABE HAMMAMET (72) 283.204 AEROPORT SKANES MONASTIR AEROPORT MONASTIR (73) 466.300 CNRO MONASTIR CNRO HOTEL CHAMS (73) 466.515 AEROPORT SFAX SFAX CHAKER AEROPORT SFAX (74) 241.700 JERBA HOUMT SOUK MEDENINE DJERBA HOUMT SOUK (75) 621.680 AEROPORT JERBA MEDENINE AEROPORT DJERBA (75) 650.233 HOTEL CLUB SANGHO MEDENINE HOTEL CLUB SANGHO (75) 680.124 RAS JEDIR MEDENINE RAS JEDIR (75) 665.021 BENI KHEDECH MEDENINE BENI KHEDECH (75) 647.253 AEROPORT TOZEUR TOZEUR AEROPORT TOZEUR (76) 450.388 AEROPORT TABARKA JENDOUBA AEROPORT TABARKA (78) 640.150
154 Annual Report 2003 Deposit Bank Networks ARAB INTERNATIONAL BANK OF TUNISIA
TOWN OR BRANCHES, AGENCIES, NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX OFFICES AS AT 31 (A) TUNIS TUNIS TUNIS 12, AV. DE FRANCE (71) 337.944 336.919 (A) EL DJAZIRA I TUNIS TUNIS 1, RUE DE L’ALGERIE (71) 325.428 333.045 DECEMBER 2003 (A) EL DJAZIRA II TUNIS TUNIS 53, RUE EL JAZIRA (71) 345.850 342.622 (A) TUNIS MEDINA TUNIS TUNIS 14,RUE DE LA KASBA (71) 353.191 352.915 (A) CHARGUIA TUNIS TUNIS CHARGUIA (Z. INDUSTRIELLE) (71) 785.923 787.522 (A) AV.H.B. (Cptr.Comm.) TUNIS TUNIS 70,72.AV. HABIB BOURGUIBA (Cent. D'affaires) (71) 340.657 351.009 (A) AV.H.B. (Cptr.part.) TUNIS TUNIS 70,72.AV. HABIB BOURGUIBA (Part.61) (71) 340.671 336.034 (A) ABOUS NAWAS TUNIS TUNIS C.COMMERCIAL ABOU NAWAS TUNIS (71) 346.434 347.524 (A) AV.H.B. (4è.Ag. Siège) TUNIS TUNIS 68,AV. HABIB BOURGUIBA (71) 347.042 335.398 (A) AV. DE PARIS TUNIS TUNIS 23, AVENUE DE PARIS (71) 338.361 331.458 (A) AV. MOHAMED V. TUNIS TUNIS 60, AV. MOHAMED V. (71) 785.787 785.503 (A) LA FAYETTE TUNIS TUNIS RUE DU KOWEIT LAFAYETTE PP B5 (71) 782.954 782.850 (A) RUE D’EGYPTE TUNIS TUNIS 3,RUE D’EGYPTE (71) 786.743 832.261 (A) EL MENZAH I. TUNIS TUNIS CITE MAHRAJENE (71) 783.290 793.395 (A) EL MENZAH VI. TUNIS EL MENZAH CITE JAMIL MENZAH VI (71) 750.909 750.216 (A) AV. DE CARTHAGE TUNIS TUNIS 72,AV. DE CARTHAGE (71) 347.483 347.483 (A) AV. HEDI CHAKER TUNIS TUNIS 44,AV. HEDI CHAKER (71) 780.173 781.583 (A) LE KRAM TUNIS KRAM 246,AV. HABIB BOURGUIBA (71) 730.037 733.320 (A) LE BARDO TUNIS BARDO 6,AV. HABIB BOURGUIBA (71) 512.811 511.785 (A) EL OUARDIA TUNIS EL OUARDIA 82,AV. 15 OCTOBRE 1963 (71) 390.445 494.560 (A) EL MANAR TUNIS EL MANAR 3,AV. TAHAR BEN AMMAR (71) 880.433 880.344 (A) BAB SOUIKA TUNIS TUNIS C.COMMERCIAL LOCAL N°10 BAB SOUIKA (71) 570.658 570.678 (A) J.ABDENNACEUR TUNIS TUNIS 1, RUE J.ABDENNACEUR (71) 349.433 351.700 (A) EL HAFSIA TUNIS TUNIS PL. HAFSIA ANG.R. SIDI BOUHDID (71) 330.308 333.788 (A) LES BERGES DU LAC TUNIS TUNIS C.COMMERCIAL DES BERGES DU LAC (71) 761.424 761.216 (A) TUNIS TUNIS TUNIS 70, 72, AV. H. BOURGUIBA (C. INT 71) (71) 340.699 347.751 (A) TUNIS TUNIS TUNIS 25, AV. DE PARIS (71) 338.017 337.420 (A) TUNIS TUNIS TUNIS AV. MOHAMED V (71) 842.422 844.774 (A) EL MANAR TUNIS EL MANAR CENTRE ALYSSA, RUE MALAGA (71) 874.530 874.624 (A) EZZAHROUNI TUNIS EZZAHROUNI 59 AV. ENNAKHIL (71) 585.800 597.350 (A) LA MARSA TUNIS LA MARSA 16, AV. 7 NOVEMBRE (71) 774.040 774.084 (A) LAFAYETTE TUNIS TUNIS RUE DU KOWEIT LAFAYETTE PME (71) 785.620 782.850 (A) TUNIS TUNIS TUNIS 70-72 AV. H. BOURGUIBA (Ag. Personnel) (71) 256.029 340.950 (A) ARIANA ARIANA NORD ARIANA NORD ANGLE AV. ENVIRON. ET AV. A. K. CHEBBI (71) 706.100 708.744 (A) EL MENZAH VII. ARIANA EL MENZAH CITE LATIF-EL MENZAH VII (71) 753.453 753.900 (A) TUNISAIR ARIANA ARIANA 15,RUE9105 Z.I. GHARGUIA(T-AIR) (71) 785.923 700.874 (A) ARIANA ARIANA ARIANA 5, RUE DE SALAMBO (71) 713.275 719.442 (A) CARNOY ARIANA CARNOY 8, AV. DE LA LIBERTÉ ET MENZAH V (71) 231.300 235.444 (A) ARIANA ARIANA ARIANA 5, RUE SALAMBO (71) 716.683 716.821 (A) ENNASR ARIANA ENNASR 9, AV. NELLE ERE CITE ENNASR (71) 875.685 875.688 (A) MANOUBA MANOUBA MANOUBA AV.HABIB BOURGUIBA-MANOUBA (71) 520.033 520.020 (A) BEN AROUS BEN AROUS BEN AROUS AV.HABIB BOURGUIBA (71) 382.889 383.023 (A) MEGRINE BEN AROUS MEGRINE 55,AV.HABIB BOURGUIBA (71) 433.595 299.266 (A) H. LIF BEN AROUS H.LIF ANG. AV. DE LA REPUB.-GP1 (71) 711.600 294.700 (A) BIZERTE BIZERTE BIZERTE RUE MONCEF BEY (72) 433.711 433.862 (A) MATEUR BIZERTE MATEUR AV. HABIB BOURGUIBA (72) 466.598 468.222 (A) EL ALIA BIZERTE EL ALIA AV. HABIB BOURGUIBA (72) 442.674 442.804 (A) UTIQUE BIZERTE UTIQUE UTIQUE VILLE (72) 445.030 445.277 (A) B. ESSAHEL NABEUL B. ESSAHEL AV. MED. IDEM BAREKET ESSAHEL (72) 249.511 249.344 (A) NABEUL NABEUL NABEUL 71,AV. HABIB BOURGUIBA (72) 287.239 286.654 (A) HAMMAMET NABEUL HAMMAMET AV. DE LA REPUBLIQUE (72) 281.260 281.359 (A) GROMBALIA NABEUL GROMBALIA AV. HABIB BOURGUIBA (72) 255.376 255.867 (A) MENZEL BOUZELFA NABEUL M. BOUZELFA 2,4,6, RUE TAIEB EL M’HIRI (72) 292.960 292.938 (A) KORBA NABEUL KORBA AV. HABIB BOURGUIBA (72) 289.277 289.177 (A) NABEUL NABEUL HAMMAMET CENTRE COMMERCIAL HAMMAMET (72) 262.292 262.308 (A) HAMMAMET NABEUL HAMMAMET HÔTEL EL MANAR-MREZGUA (72) 262.335 262.288 (A) BIR M’CHERGUA ZAGHOUAN BIR M’CHERGUA CENTRE COMMERCIAL (72) 679.295 679.400 Deposit Bank Networks Annual Report 2003 155 ARAB INTERNATIONAL BANK OF TUNISIA
BRANCHES, AGENCIES, TOWN OR OFFICES NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX AS AT 31 (A) HAMMAMET NABEUL HAMMAMET HOTEL MEHARI YASMINE HAMMAMET (72) 240.155 240.255 DECEMBER 2003 (A) SOUSSE SOUSSE SOUSSE 3,RUE ALI BELHAOUANE (73) 224.361 227.557 (A) KALAA ESSIGHIRA SOUSSE K. ESSIGHIRA AV.HABIB BOURGUIBA (73) 242.233 249.247 (A) MSAKEN SOUSSE MSAKEN 50,AV.TAEIB HACHICHA (73) 259.555 259.753 (A) SOUSSE CORNICHE SOUSSE SOUSSE RUE BELKADHI - LA CORNICHE (73) 227.155 227.153 (A) SIDI BOU ALI SOUSSE SIDI BOU ALI AV. H. BOURGUIBA (73) 247.244 247.245 (A) SOUSSE KHEZAMA SOUSSE KHEZAMA BD 7 NOV.RTE TOURIST KHEZAMA EST (73) 242.125 242.071 (A) HAMMAM SOUSSE SOUSSE HAMMAM SOUSSE RTE DE TUNIS (73) 360.011 360.013 (A) SOUSSE SOUSSE SOUSSE NORD PORT EL KANTAOUI (73) 240.422 240.997 (A) SOUSSE MEDINA SOUSSE SOUSSE MEDINA 10, RUE SALAH BEL AJOUZA (73) 223.665 223.667 (A) SOUSSE SOUSSE SOUSSE LES JARDINS-PORT EL KANTAOUI (73) 346.210 346.206 (A) TEBOULBA MONASTIR TEBOULBA 262, AV. H. BOURGUIBA (73) 479.550 492.596 (A) MONASTIR MONASTIR MONASTIR PLACE DU LEADER (73) 462.977 463.575 (A) KSAR HELLAL MONASTIR KSAR HELLAL AV. HABIB BOURGUIBA (73) 473.544 473.707 (A) KSIBET EL MEDIOUNI MONASTIR KS.MEDIOUNI 56, AV.HABIB BOURGUIBA (73) 469.127 469.898 (A) MAHDIA MAHDIA MAHDIA PLACE DU 7 NOVEMBRE (73) 680.203 695.191 (A) MAHDIA MAHDIA MAHDIA C. IMM. DIAR EL BAHR. Z. TOURISTIQUE (73) 671.506 671.459 (A) EL JADIDA SFAX SFAX. EL JADIDA AV. 7 NOVEMBRE (74) 406.730 406.736 (A) SFAX SFAX SFAX AV. 5 AOÛT (74) 220.730 224.760 (A) SFAX EL HABIB SFAX SFAX KM 3 RTE DE MEHARZA (74) 274.633 274.670 (A) SFAX EL HILLAL SFAX SFAX 17,PLACE DU 5 DECEMBRE (74) 297.679 297.684 (A) RUE S. HARZALLAH SFAX SFAX 9, RUE SALEM HARZALLAH (74) 297.504 297.810 (A) PLACE MALBURG SFAX SFAX 3,PLACE MALBURG (74) 299.660 220.738 (A) AV. FARHAT HACHED SFAX SFAX AV. FARHAT HACHED (74) 229.871 226.052 (A) GREMDA SFAX SFAX ROUTE GREMDA KM 1.5 (74) 241.038 241.626 (A) LA POUDRIERE SFAX SFAX LA POUDRIERE (Z. IND.) (74) 287.334 287.815 (A) SFAX MEDINA SFAX SFAX RUE MONGI SLIM (EL MEDINA) (74) 229.423 225.651 (A) MAHRES SFAX MAHRES AV. HABIB BOURGUIBA (74) 290.959 290.034 (A) SAKIET EZZIT SFAX SAKIET EZZIT PLACE MOUFIDA BOURGUIBA (74) 251.666 251.200 (A) EL HANCHA SFAX EL HANCHA AV. HABIB BOURGUIBA (74) 284.060 284.452 (A) SFAX CENTER SFAX SFAX AV. HABIB BOURGUIBA (SFAX CENTRE) (74) 225.019 229.486 (A) SFAX 2000 SFAX SFAX AV. DES MARTYRS (74) 227.184 297.805 (A) SFAX THAMEUR SFAX SFAX ANGLE AV.H.THAMEUR & R.S.HARZALLAH (74) 229.504 297.810 (A) BIR ALI BEN KHELIFA SFAX B.A.B KHELIFA AV. DU 2 MARS 1934 (74) 277.255 277.280 (A) FOIRE DE SFAX SFAX SFAX AV.HABIB BOURGUIBA (Sfax foire) (74) 225.692 228.155 (A) SFAX SFAX SAK-EDDAYER ROUTE MAHDIA KM-7 SFAX (74) 293.873 293.878 (A) GABES GABES GABES 3,AV. FARHAT HACHED (75) 272.411 273.699 (A) JERBA HOUMET SOUK MEDENINE JERBA AV. HABIB BOURGUIBA (75) 651.777 651.950 (A) TOZEUR TOZEUR TOZEUR AV. FARHAT HACHED (76) 450.633 452.659 (A) KAIROUAN KAIROUAN KAIROUAN AV. DE LA REPUBLIQUE (77) 229.300 227.092 (A) OUESLATIA KAIROUAN OUESLATIA CITE COMMERC. AV.ALI BELHAOUANE (77) 250.047 250.025 (A) JENDOUBA JENDOUBA JENDOUBA RUE M’HAMED ALI (78) 633.208 631.449 (A) BEJA BEJA BEJA ANGLE AV. H.B. & AV. DE FRANCE (78) 454.875 456.425
156 Annual Report 2003 Deposit Bank Networks INTERNATIONAL BANKING UNION
TOWN OR BRANCHES, AGENCIES, NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX OFFICES (A) CENTRALE TUNIS TUNIS 65, AV. HABIB BOURGUIBA (71) 340.756 340.760 AS AT 31 (A) AFRIQUE TUNIS TUNIS 25, AV. HABIB BOURGUIBA (71) 340.521 353.190 DECEMBER 2003 (A) EL JAZIRA TUNIS TUNIS 26, RUE EL JAZIRA (71) 322.879 321.881 (A) LES SOUKS TUNIS TUNIS 102,RUE JEMAA EZZITOUNA (71) 200.973 200.951 (A) BERGES DU LAC TUNIS TUNIS RTE DE LA MARSA - BLOC G (71) 860.682 860.687 (A) LA MARSA TUNIS LA MARSA PLACE 7 NOVEMBRE (71) 741.064 741.101 (A) MISR TUNIS TUNIS 10, RUE D'EGYPTE (71) 104.736 832.672 (A) SIDI BELHASSEN TUNIS TUNIS 5, RUE DE TOURCOING (71) 253.774 344.435 (A) BELHAOUANE TUNIS BAB SOUIKA 51, AV. ALI BELHOUANE (71) 563.333 563.437 (A) BAB DJEDID TUNIS TUNIS 61, AV. BAB DJEDID (71) 345.347 346.766 (A) ETATS-UNIS TUNIS BELVEDERE 22, AV. DES ETATS-UNIS (71) 894.914 796.313 (A) LE BARDO TUNIS BARDO PLCE L'ASSEMBLEE NATIONALE IMM. MOURADE (71) 511.920 509.700 (A) ELAHMADI TUNIS LA MARSA RUE DE LA MOSQUEE-CITE ESSAADA (71) 744.055 744.081 (A) KHEREDDINE TUNIS KHEREIDDINE AV. H. BOURGUIBA (71) 276.570 731.804 (A) ELOUARDIA TUNIS ELOUARDIA RUE 10.000 N° 11-ELOUARDIA (71) 393.254 390.940 (A) SIDI BOU SAID TUNIS SIDIBOUSAID AV. HABIB BOURGUIBA (71) 740.318 740.446 (A) LA GOULETTE TUNIS LA GOULETTE AV. HABIB BOURGUIBA (71) 735.516 736.517 (A) SAADI TUNIS ELMENZAH IMMEUBLE SAADI (71) 237.435 230.958 (A) CHARGUIA TUNIS CHARGUIA 20- RUE N° 11 - Z.I. - LA CHARGUIA (71) 781.846 782.447 (A) EL MENZAH Vl TUNIS ELMENZAH 2, RUE YOUSSEF DJAIET (71) 766.957 767.855 (A) ARIANA ARIANA ARIANA RUE DU METAL 2037 B.LOUZIR ARIANA (71) 837.212 837.677 (A) EL MANAR ARIANA EL MANAR 5 bis, RUE T. BEN AMMAR (71) 885.036 883.919 (A) M’NIHLA ARIANA M’NIHLA Km3 RTE DE BIZERTE ENNOGRA (71) 548.207 548.208 (A) HRAIRIA ARIANA HRAIRIA RUE 4667 - EZZAHROUNI (71) 599.473 598.777 (A) BEN AROUS BEN AROUS BEN AROUS 29, AV. HABIB BOURGUIBA (71) 383.739 383.525 (A) MEGRINE BEN AROUS MÉGRINE 13 BIS, AV.HABIB BOURGUIBA (71) 433.772 433.647 (A) EZZAHRA BEN AROUS EZZAHRA ANGLE AV.CHARLE NICOLE H.BORGUIBA (71) 481.888 454.455 (A) EL MOUROUJ BEN AROUS EL MOUROUJ CENTRE COMMERCIAL - LAMTI CENTRE (71) 367.111 367.099 (A) OUED ELLIL MANOUBA OUED ELLIL KM 8 ROUTE DE MATEUR (71) 620.999 621.777 (A) BORJELAMRI MANOUBA BORJELAMRI CITE COMMERCIALE -BORJ EL AMRI (71) 542.550 542.555 (A) BIZERTE BIZERTE BIZERTE AV. MOHAMED BEY (72) 432.555 422.866 (A) MATEUR BIZERTE MATEUR AV. TAIEB M'HIRI (72) 465.552 465.365 (A) MENZEL JEMIL BIZERTE MENZ. JEMIL 1,AV. HABIB BOURGUIBA (72) 440.969 441.244 (A) M.ABDERRAHMAN BIZERTE M. ABDERRAHMAN 45, AV. H. BOURGUIBA (72) 571.245 571.013 (A) RAS-JEBEL BIZERTE RAS-JEBEL AV. HABIB BOURGUIBA -RAS JEBEL (72) 449.603 449.466 (A) TINJA BIZERTE TINJA AV. HABIB BOURGUIBA -TINJA (72) 569.240 569.377 (A) MENZEL BOURGUIBA BIZERTE M.BOURGUIBA ANGLE RUE HEDI CHAKER (72) 464.877 470.007 (A) ZAGHOUAN ZAGHOUAN ZAGHOUAN IMM. CTAMA - BAB OUALI (72) 675.034 675.025 (A) ENNADHOUR ZAGHOUAN ENNADHOUR AV. HABIB BOURGUIBA (72) 678.536 678.524 (A) EL FAHS ZAGHOUAN EL FAHS AV. H.BOURGUIBA - IMM.MAJUS (72) 670.144 670.054 (A) MENZEL TEMIME NABEUL M.TEMIME AV. HABIB BOURGUIBA -MENZEL TEMIME (72) 344.188 344.536 (A) MENZEL BOUZELFA NABEUL M.BOUZELFA RUE TAIEB MEHIRI - M.BOUZELFA (72) 254.256 292.901 (A) NABEUL NABEUL NABEUL 63,AV HEDI CHAKER, 8000 NABEUL (72) 221.677 220.311 (A) HAMMAMET NABEUL HAMMAMET AV.DES NATIONS UNIES (72) 280.395 281.562 (A) HAMMAMET VILLE NABEUL HAMMAMET RUE DE LA REPUBLIQUE (72) 283.533 283.579 (A) CHEBBA MAHDIA LA CHEBBA CITE COMMERCIALE - LA CHEBBA (73) 641.469 643.419 (A) MAHDIA MAHDIA MAHDIA AV. HABIB BOURGUIBA - MAHDIA (73) 681.734 681.737 (A) TEBOULBA MAHDIA TÉBOULBA AV. HABIB BOURGUIBA (73) 492.911 492.912 (A) RTE TOURISTIQUE MAHDIA MAHDIA COMPLEXE TOURISTIQUE «DIAR EL BAHR» (73) 683.213 683.211 (A) MONASTIR MONASTIR MONASTIR IMM. LE REMPART, AV. H. BOURGUIBA (73) 461.400 464.942 (A) KHENIS MONASTIR KHENIS AVENUE HANNIBAL - CENTRE COMMERCIAL (73) 535.515 535.520 (A) JEMMEL MONASTIR MONASTIR RUE H. EL BORJI - IMMEUBLE M'LAOUAH (73) 485.000 485.004 (A) KALAA KEBIRA SOUSSE KALAA KEBIRA PLACE DU MARCHÉ (73) 253.250 253.037 (A) HAMMAM-SOUSSE SOUSSE H.SOUSSE 3, AV. HABIB BOURGUIBA (73) 361.222 361.656 (A) M’SAKEN SOUSSE M’SAKEN CENTRE COMMERCIAL - M’SAKEN (73) 259.716 259.300 (A) S.ERRIADH SOUSSE SOUSSE COMPLEXE TOURISTIQUE RIADH (73) 229.659 229.658 Deposit Bank Networks Annual Report 2003 157 INTERNATIONAL BANKING UNION
BRANCHES, AGENCIES, TOWN OR OFFICES NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX AS AT 31 (A) SOUSSE SOUSSE SOUSSE 8, AV. HABIB THAMEUR-S.MEDINA (73) 224.813 228.593 DECEMBER 2003 (A) JAWHARA SOUSSE SOUSSE RUE MED KAROUI CITE EZZAHRA - SOUSSE (73) 332.985 332.987 (A) NEJMA SOUSSE SOUSSE RUE,DE LA CORNICHE (73) 228.246 228.222 (A) SFAX H.CHAKER SFAX SFAX 17, AV. HEDI CHAKER (74) 226.416 227.555 (A) SFAX TAPARURA SFAX SFAX ANG. AV.PATR. LUMAMBA-RUE A.BACH (74) 298.565 298.836 (A) SFAX MOULINVILLE SFAX SFAX 0,5 AV. DE BIZERTE-ROUTE DE TUNIS (74) 258.670 216.727 (A) EL JADIDA SFAX SFAX AV. 7 NOVEMBRE (74) 402.042 402.040 (A) KERKENNAH SFAX KERKENNAH AV. 7 NOVEMBRE RAMLA (74) 481.933 481.160 (A) SBIBA KASSERINE SBIBA RUE ABOUBAKR FOURATI (74) 488.425 488.400 (A) GABES GABES GABES 298, AV. H. BOURGUIBA (75) 274.881 274.460 (A) MEDENINE MEDENINE MEDENINE(ONS) IMM. ETAMMIA MEDENINE (75) 642.528 642.529 (A) ZARZIS MEDENINE ZARZIS COMPLEXE EZZITOUNA ROUTE DE MEDENINE (75) 691.600 691.100 (A) HOUMT SOUK MEDENINE HOUMT SOUK RUE BEN BOUMESAOUR JERBA (75) 651.080 651.103 (A) MIDOUNE MEDENINE MIDOUNE 4116, MIDOUNE-JERBA (75) 731.504 730.169 (A) SIDI BOUZID SIDI BOUZID SIDIBOUZID RUE HOUCINE BOUZAIENE - RUE H. CHEKER (76) 633.500 634.927 (A) CEBALA SIDI BOUZID CEBALA AV. 7 NOVEMBRE (76) 674.420 674,050 (A) SIDI ALI B.AOUN SIDI BOUZID S.ALI B.AOUN RUE 7 NOVEMBRE (76) 660.344 660.180 (A) TOZEUR TOZEUR TOZEUR ROUTE DE NEFTA (76) 463.415 463.405 (A) NEFTA TOZEUR NEFTA AV. HABIB BOURGUIBA (76) 430.691 430.153 (A) DEGECHE TOZEUR DEGACHE AV. FARHAT HACHET (76) 420.294 420.499 (A) GAFSA GAFSA GAFSA AV, TAIEB M'HIRI 2100, GAFSA (76) 226.119 224.255 (A) KAIROUAN KAIROUAN KAIROUAN 12, PLACE DE L’INDÉPENDANCE CITE COMMERCIALE (77) 226.310 228.556 (A) SIDI AMOR BOUHAJLA KAIROUAN BOUHAJLA AV, 7 NOVEMBRE (77) 266.289 266.010 (A) TABARKA JENDOUBA TABARKA ANGLE AV.H.BOURGUIBA & RUE HEDI CHEKER (78) 670.736 673.736 (A) JENDOUBA JENDOUBA JENDOUBA PLACE FARHAT HACHED (78) 603.143 604.260 (A) BEJA BEJA BEJA 3, AV. HABIB BOURGUIBA IMM.CTAMA (78) 457.344 451.630 (A) LE KEF LE KEF LE KEF 2,RUE. MONGI SLIM (78) 223.720 224.500 (A) GHARDIMAOU JENDOUBA GHARDIMAOU RUE, ALI BEN ZITOUN (78) 661.300 660.480
BOX LOCALITY ADRESS TELEPHONE (B) PORT LA GOULETTE PORT LA GOULETTE (71) 735.222 735.222 (B) AEROPORT T.CARTHAGE ARIANA AEROPORT TUNIS CARTHAGE (71) 750.528 767.599 (B) PORT LA GOULETTE LA GOULETTE PORT LA GOULETTE (71) 737.717 737.717 (B) ABOU NAWAS TUNIS HÔTEL ABOU NAWAS GAMMARTH (71) 746.218 741.101 (B) HÔTEL LE PRÉSIDENT NABEUL HOTEL LE PRESIDENT (72) 278.352 279.611 (B) HÔTEL LE PARADIS HAMMAMET AV. DES ETATS UNIS 8050 HAMMAMET (72) 227.012 281.562 (B) RYM MONASTIR HOTEL RYM SAHRA BEACH (73) 521.632 521.632 (B) AEROPORT MONASTIR MONASTIR AEROPORT SKANES MONASTIR (73) 520.091 520.091 (B) HOUMET ESSOUK MEDENINE PLACE FARHAT HACHED (75) 650.154 652.790
158 Annual Report 2003 Deposit Bank Networks BANK FOR HOUSING
TOWN OR BRANCHES, AGENCIES, NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX OFFICES (S) K. PACHA TUNIS BELVEDERE 21, AV. KHEREDDINE PACHA (71) 782.128 781.092 AS AT 31 (S) H. BOURGUIBA TUNIS TUNIS AV. H.BOURGUIBA (71) 337.690 335.343 DECEMBER 2003 (A) LE KRAM TUNIS LE KRAM 155 BIS, AV. HABIB BOURGUIBA (71) 721.000 721.650 (A) LA MARSA TUNIS LA MARSA AV. H.BOURGUIBA CENTRE FENISIA (71) 775.777 749.111 (A) “9 AVRIL” TUNIS B.SAADOUN Bd 9 AVRIL (71) 570.195 564.025 (A) AV. DE CARTHAGE TUNIS AV. DE CARTHAGE 23,AV.DE CARTHAGE (71) 353.677 352.993 (A) AV. DE LONDRES TUNIS AV. DE LONDRES 70,AV. DE LONDRES (71) 343.509 343.163 (A) CHARGUIA TUNIS CHARGUIA 42, RUE 8600 ZONE INDU. LA CHARGUIA (71) 770.035 772.041 (A) ETTADHAMEN TUNIS ETTADHAMEN CITE ETTADHAMEN ANGLE R.N.C 31 (71) 554.145 554.844 (A) INTERNATIONALE TUNIS TUNIS 17, AV. KHEREDDINE PACHA (71) 794.622 794.998 (A) KHAZNADAR TUNIS KHAZNADAR AV.DE L’INDEPENDANCE IMM. STAR (71) 500.493 515.159 (A) LE DIPLOMAT TUNIS DIPLOMAT 44, AV. HEDI CHAKER (71) 791.099 794.186 (A) ALAIN SAVARY TUNIS ALAIN SAVARY ROUTE X 2; ANGLE ALAIN SAVARY (71) 784.514 787.474 (A) AHMED TLILI TUNIS TUNIS AV. AHMED TLILI (71) 338.079 336.066 (A) EZZAHRA BEN AROUS EZZAHRA AV.HABIB BOURGUIBA (71) 482.100 482.062 (A) MEGRINE BEN AROUS MEGRINE AV. H. BOURGUIBA (71) 429.555 429.580 (A) BEN AROUS BEN AROUS BEN AROUS 7,AV. DE FRANCE BEN AROUS (71) 389.346 389.403 (A) EL MOUROUJ BEN AROUS EL MOUROUJ AV. DES MARTYRS (71) 362.348 362.354 (A) HAMMAM-LIF BEN AROUS HAMMAM -LIF AV. DE LA REPUBLIQUE (71) 438.828 439.296 (A) Nouv. MEDINA BEN AROUS Nouv. MEDINA 304,AV. F. IBN ABDELAZIZ N. MED (71) 310.505 310.533 (A) BIR EL KASSAA BEN AROUS BIR EL KASSAA IMM. BEB TUNIS RUE DU LIN (71) 389.200 387.033 (B) HEB.FOUCHANA BEN AROUS FOUCHANA (A) RADES BEN AROUS RADES ENTRÉE DU VILLAGE MEDITERRANEEN (71) 463.400 465.422 (A) ARIANA ARIANA ARIANA AV.H.BOURGUIBA. ARIANA CENTER (71) 706.680 705.643 (A) EL MENZEH V ARIANA EL MENZAH V 18, AV. DE LA LIBERTÉ (71) 238.777 236.195 (A) ENNASR ARIANA ENNASR AV. L'ERE NOUVELLE RESIDENCE SALAMBO(71) 784.844 828.347 (A) GROMBALIA NABEUL GROMBALIA AV.H.BOURGUIBA (72) 256.376 257.183 (A) HAMMAMET NABEUL HAMMAMET AV.H.BOURGUIBA (72) 282.120 283.700 (A) KELIBIA NABEUL KELIBIA AV.ALI BELAHOUANE (72) 274.557 274.559 (A) NABEUL NABEUL NABEUL 30,AV. H.BOURGUIBA (72) 220.267 287.573 (A) ZA. DJEDIDI NABEUL ZA. DJEDIDI AV.20 MARS ZAOUIET DJEDIDI (72) 252.875 252.549 (B) HEB. SOLIMAN NABEUL SOLIMAN (A) ZAGHOUAN ZAGHOUAN ZAGHOUAN AV. 7 NOVEMBRE (72) 675.489 676.998 (A) BIZ. KHALDOUN BIZERTE BIZ. KHALDOUN 17,RUE IBN KHALDOUN (72) 432.830 433.911 (A) BIZERTE THAALBI BIZERTE BIZERTE ANGLE AV.H.BOURGUIBA & THAALBI (72) 431.903 434.150 (A) MENZEL BOURGUIBA BIZERTE MENZ. BOURG. AV.DE L’INDEPENDANCE (72) 464.650 464.675 (A) RAFRAF BIZERTE RAFRAF AV.7 NOVEMBRE - PLACE RMILA (72) 455.622 455.711 (A) MATEUR BIZERTE MATEUR AV. TAÎEB MHIRI - MATEUR (72) 465.060 465.344 (B) HEB. MATEUR BIZERTE MATEUR (A) CHATT MARIEM SOUSSE CHATT MARIEM ROUTE TOURISTIQUE SOUSSE HERGLA (73) 248.631 248.633 (A) HAMMAM SOUSSE SOUSSE H. SOUSSE AV. 7 NOVEMBRE (73) 270.233 270.235 (A) SOUSSE HACHED SOUSSE S. HACHED CITE FARHAT HACHED (73) 229.686 229.687 (A) SOUSSE INDEP. SOUSSE S. INDEPENDANCE 3,RUE DE L’INDEPENDANCE (73) 226.725 222.071 (A) SOUSSE RIADH SOUSSE SOUSSE RIADH 5, RUE JAAFAR IBN ABI TALIB (73) 304.913 300.264 (A) SOUSSE KANTAOUI SOUSSE SOUSSE PORT KANTAOUI (73) 348.974 348.976 (A) M’SAKEN SOUSSE M’SAKEN ANG. AV. TAÏB HACHICHA RUE DES ORANGES (73) 265.788 265.790 (A) JEMMEL MONASTIR JEMMEL 70, RUE KASSAS JEMMEL (73) 483.501 483.500 (A) MONASTIR MONASTIR MONASTIR PLACE 7 NOVEMBRE (73) 461.911 463.444 (B) HEB. KSAR HELLAL MONASTIR KSAR HELLAL (A) KARKAR MAHDIA KARKAR GP1 RUE NATIONALE KARKAR (73) 620.641 620.643 (A) MAHDIA MAHDIA MAHDIA 106,AV.H.BOURGUIBA (73) 681.863 694.355 (A) KSAR HELLAL MONASTIR KSAR HELLAL RUE HANNIBAL (73) 475.310 475.303 (A) BOUFICHA SOUSSE BOUFICHA AVENUE DE L'ENVIRONNEMENT (73) 252.811 (A) MONASTIR MONASTIR MONASTIR 9 RUE DU LEADER MONASTIR (73) 461.911 (A) SFAX C. BEJAOUI SFAX BEJAOUI RUE C.BEJAOUI (74) 226.372 225.512 (A) SFAX CITE JARDIN SFAX SFAX CITE JARDIN CITE DES JARDINS. EL BOUSTEN (74) 224.739 226.016 Deposit Bank Networks Annual Report 2003 159 BANK FOR HOUSING
BRANCHES, AGENCIES, TOWN OR OFFICES NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX AS AT 31 (A) SFAX HEDI CHAKER SFAX HEDI CHAKER 89,ANG. H.CHAKER & H.THAMEUR (74) 226.027 225.574 DECEMBER 2003 (A) SFAX JEDIDA SFAX JEDIDA RUE JARDIN. MOULINVILLE (74) 299.719 299.721 (A) GABES GABES GABES 162,AV.FARHAT HACHED (75) 272.587 275.182 (A) BEN GUERDANE MEDENINE BEN GUERDANE AV. DE TUNIS (75) 667.383 667.384 (A) JERBA MIDOUN MEDENINE JERBA MIDOUN AV. SALAH BEN YOUSSEF - MIDOUNE (75) 602.833 602.835 (A) ZARZIS MEDENINE ZARZIS RUE FARHAT HACHED (75) 683.358 683.375 (A) JERBA H. SOUK MEDENINE DJERBA H. SOUK 147, RUE ABDELKHADHI H. SOUK (75) 652.405 652.406 (A) MEDENINE MEDENINE MEDENINE 3,RUE H.BOURGUIBA IMM.FATH. MED. (75) 642.218 643.129 (A) KEBILI KEBILI KEBILI RUE NALOUT KEBILI (75) 490.120 490.154 (A) TATAOUINE TATAOUINE TATAOUINE RUE FARHAT HACHED (75) 862.317 862.316 (A) GAFSA GAFSA GAFSA 27, AV.TAIEB M’HIRI (76) 221.566 222.133 (A) TOZEUR TOZEUR T.MAZGHOUNA AV.FARHAT HACHED (76) 453.624 452.207 (A) SIDI BOUZID S.BOUZID S.BOUZID AV.HEDI CHAKER (76) 632.154 632.276 (A) KAIROUAN KAIROUAN KAIROUAN AV. EL MAHDIA-KAIROUAN (77) 227.757 227.885 (A) KASSERINE KASSERINE KASSERINE AV.T.M’HIRI. IMM.BS-KASSERINE (77) 474.850 472.390 (A) KAIROUAN IBN JAZZAR KAIROUAN KAIROUAN RUE IBN JAZZAR (77) 238.824 238.826 (A) JENDOUBA JENDOUBA JENDOUBA 13, RUE ALI BELHAOUANE (78) 631.809 630.191 (A) TABARKA JENDOUBA TABARKA (78) 862.844 872.845 (A) BEJA BEJA BEJA ANG. AV.H.BOURGUIBA & A.BEN ZIAD (78) 454.400 455.228 (B) HEB. MEDJEZ BAB BEJA MEDJEZ BAB (A) LE KEF LE KEF LE KEF Bd.MONGI SLIM (78) 224.399 225.702 (A) SILIANA SILIANA SILIANA AV.DU 18 JANVIER 1952 IMM.BNA (78) 872.844 872.845
160 Annual Report 2003 Deposit Bank Networks BANK OF THE SOUTH
TOWN OR BRANCHES, AGENCIES, NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX OFFICES (A) BACH HAMBA TUNIS TUNIS 56, AV. H. BOURGUIBA (71) 343.413 350.290 AS AT 31 (A) TUNIS LIBERTE TUNIS TUNIS 45, AV.DE LA LIBERTE (71) 835.138 832.278 DECEMBER 2003 (A) MOHAMED V. TUNIS TUNIS 3, PLACE PASTEUR (71) 780.543 849.884 (A) MONCEF BEY TUNIS TUNIS PLACE MONCEF BEY (71) 253.598 342.371 (A) SIDI BOUSAID TUNIS SIDI BOUSAID PLACE 7 NOVEMBRE (71) 740.296 741.192 (S) AVENUE DE PARIS TUNIS TUNIS 14,AV.DE PARIS (71) 258.801 343.662 (S) BELVEDERE TUNIS TUNIS 95, AV. DE LIBERTÉ (71) 892.422 784.131 (A) TUNIS BARCELONE TUNIS TUNIS 9, RUE DE HOLLANDE (71) 322.219 327.252 (A) LA GOULETTE TUNIS LA GOULETTE AV.HABIB BOURGUIBA (71) 735.700 735.015 (A) LE KRAM TUNIS LE KRAM 20, AV.HABIB BOURGUIBA (71) 731.548 731.548 (A) EL MECHTEL TUNIS TUNIS RUE OULED HAFFOUZ EL MECHTEL (71) 794.025 793.656 (A) MONGI SLIM TUNIS TUNIS 63,AV.MONGI SLIM (71) 330.701 332.005 (A) LE BARDO TUNIS LE BARDO BOULEVARD 20 MARS (71) 514.859 513.200 (A) CHARGUIA TUNIS CHARGUIA R. N° 8600 Z.I.CHARGUIA I (71) 808.067 807.155 (A) LA MARSA TUNIS LA MARSA RÉS. L’ESPARADE AV. H. BOURGUIBA (71) 729.481 729.490 (A) LE PASSAGE TUNIS TUNIS COMP. IMM. MEDINA PLACE 53, AV. PARIS (71) 342.278 341.548 (A) LES BERGES DU LAC TUNIS LAC DE TUNIS RUE DU LAC ANNECY LES BERGES DU LAC (71) 964.654 964.183 (A) DEN DEN ARIANA DEN DEN 1, AV.DE L’INDEPENDANCE (71) 611.888 610.822 (A) ARIANA ARIANA ARIANA ANG. H. BOURGUIBA & RUE 18 JANVIER 1952(71) 710.303 707.304 (A) ETTADHAMEN ARIANA ETTADHAMEN AV. DE L’INDEPENDANCE (71) 547.777 545.244 (A) EL MANAR ARIANA EL MANAR 16,RUE ABOUSSAOUD (71) 887.672 887.968 (A) SIDI THABET ARIANA SIDI THABET COMPL.COMM. AV. H. BOURGUIBA (71) 552.020 552.404 (A) HAMMAM LIF BEN AROUS HAMMAM LIF 3,AV.HABIB BOURGUIBA (71) 292.312 437.566 (A) RADES BEN AROUS RADES 37, AV. FARHAT HACHED RADES (71) 443.708 441.133 (A) MEGRINE BEN AROUS BEN AROUS GP1 CARREFOUR MEGRINE BEN AROUS (71) 389.387 389.391 (A) HAMMAMET NABEUL HAMMAMET 15 AV. HABIB THAMEUR (72) 280.317 280.989 (A) NABEUL NABEUL NABEUL 15,AV.HABIB THAMEUR (72) 286.256 286.923 (A) SOLIMAN NABEUL SOLIMAN 15,AV.HABIB BOURGUIBA (72) 290.319 291.810 (A) DAR CHAABANE NABEUL D.CHAABANE 15,AV.HABIB BOURGUIBA (72) 361.500 361.222 (A) KELIBIA NABEUL KELIBIA 15, RUE IBN KHALDOUN (72) 295.384 273.346 (A) BOUARGOUB NABEUL BOUARGOUB 15, AV.H. BOURGUIBA (72) 259.621 259.127 (A) BARRAKET ESSAHEL NABEUL BARAKET ESS. AV. MOHAMED V (72) 226.013 226.607 (A) BIZERTE BIZERTE BIZERTE ANGLE R. HABIB THAMEUR-TAIEB M'HIRI (72) 432.695 436.111 (A) MENZEL JEMIL BIZERTE ML.JEMIL 4,AV.HABIB BOURGUIBA (72) 440.823 446.622 (A) MENZEL BOURGUIBA BIZERTE ML.BOURGUIBA 4, RUE 18 JANVIER 1952 (72) 464.672 464.122 (A) SOUSSE BAB-JEDID SOUSSE SOUSSE 18, AV.HABIB THAMEUR (73) 226.049 226.510 (A) SOUSSE H.BOURGUIBA SOUSSE SOUSSE PLACE FARHAT HACHED (73) 225.677 226.938 (A) BOUFICHA SOUSSE BOUFICHA 18, CITE CLE-ROUTE ZAGOUAN (73) 252.082 252.144 (A) M’SAKEN SOUSSE MSAKEN 18,RUE TAHAR HACHICHA (73) 258.422 257.004 (A) SOUSSE-CENTER SOUSSE SOUSSE AV. HABIB BOURGUIBA (73) 228.540 226.410 (A) KSAR HELAL MONASTIR KSAR HELAL 13,AV.HABIB BOURGUIBA (73) 475.211 476.033 (A) BEKALTA MONASTIR BEKALTA 13,RUE MED SMIDA (73) 477.050 477.699 (A) MONASTIR MONASTIR MONASTIR 13,IMMEUBLE STAR (73) 462.921 464.956 (A) ZERAMDINE MONASTIR ZERAMDINE 13,AV.HABIB BOURGUIBA (73) 498.527 498.060 (A) TEBOULBA MONASTIR TEBOULBA AV. 7 NOVEMBRE (73) 479.570 479.150 (A) JAMMEL MONASTIR JAMMEL 13, CITE COMMERCIALE (73) 486.671 486.359 (A) MOKNINE MONASTIR MOKNINE 13, AV.HABIB BOURGUIBA (73) 474.732 476.648 (A) BOUMERDES MAHDIA BOUMERDES 12,AV.FARHAT HACHED (73) 620.058 620.193 (A) MAHDIA MAHDIA MAHDIA 12, AV.FARHAT HACHED (73) 680.757 692.108 (A) EL JEM MAHDIA EL JEM AV. TAIEB MEHIRI (73) 630.166 630.198 (A) MESSAADINE SOUSSE MESSAADINE AV. 7 NOVEMBRE (73) 284.602 284.622 (A) JEBINIANA SFAX JEBINIANA 17,PLACE 2 MARS (74) 880.194 880.226 (A) SFAX CHEBBI SFAX SFAX 17, RUE ABOULKACEM CHEBBI (74) 297.300 220.852 (A) SFAX 5 AOUT SFAX SFAX 17, AVENUE DU 5 AOUT (74) 229.687 225.677 (A) SFAX EL JADIDA SFAX SFAX 17,RUE 7 NOVEMBRE (74) 403.905 403.861 (A) GABES GABES GABES 129, AV.HABIB BOURGUIBA-GABES CENTER (75) 270.777 270.457 Deposit Bank Networks Annual Report 2003 161 BANK OF THE SOUTH
BRANCHES, AGENCIES, TOWN OR OFFICES NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX AS AT 31 (A) METOUIA GABES METOUIA 5, AV.HABIB BOURGUIBA (75) 370 766 370.904 DECEMBER 2003 (A) GABES EL MENZEL GABES GABES EL MENZEL 93, AV.DE LA REPUBLIQUE (75) 275.301 276.800 (A) ZARRAT GABES ZARRATAVENUE 7 NOVEMBRE (75) 300.245 300.111 (A) MEDENINE MEDENINE MEDENINE 14,AV.HABIB BOURGUIBA (75) 640.087 641.374 (A) JERBA H. SOUK MEDENINE JERBA 14, HOUMET ESSOUK (75) 650.730 650.022 (A) ZARZIS MEDENINE ZARZIS 14, ROUTE DE JERBA (75) 691.200 684.540 (A) BEN GUERDANE MEDENINE BEN GUERDANE 14, AV.DES MARTYRS (75) 710.032 710.036 (A) GHOMRASSEN MEDENINE GHOMRASSEN 21, AV.H. BOURGUIBA (75) 869.147 868.951 (A) JERBA AJIM MEDENINE JERBA AJIM 14,AV.HABIB BOURGUIBA (75) 660.088 660.233 (A) JERBA EL MAY MEDENINE JERBA EL MAY 14,ROUTE DE MIDOUNE (75) 676.075 676.123 (A) REMADA MEDENINE REMADA PLACE DE L’INDEPENDANCE (75) 867.322 867.321 (A) BIR LAHMAR MEDENINE BIR LAHMAR 21,AV.HABIB BOURGUIBA (75) 848.255 848.256 (A) TATAOUINE TATAOUINE TATAOUINE 21, AV. FARTHAT HACHED (75) 860.863 861.252 (A) NEFTA TOZEUR NEFTA 22, AV.HABIB BOURGUIBA (75) 430.666 430.388 (A) KEBILI KEBILI KEBILI AV. HABIB BOURGUIBA (75) 490.745 490.145 (A) DOUZ KEBILI DOUZ 29, RUE TAIEB MHIRI (75) 470.449 470.926 (A) SOUK EL AHAD KEBILI SOUK EL AHAD 5, AV.HABIB BOURGUIBA (75) 480.360 480.200 (B) BUREAU DE ZARZIS MEDENINE Z. FRANCHE ZONE FRANCHE DE ZARZIS (75) 684.250 681.251 (A) GAFSA PLACE DU MARCHE GAFSA GAFSA 6, PLACE DU MARCHE (76) 220.345 229.023 (A) METLAOUI GAFSA METLAOUI 6, PLACE DU 2 MARS (76) 241.498 241.548 (A) REDEYEF GAFSA REDEYEF 6, AV.HABIB BOURGUIBA (76) 251.065 252.142 (A) GAFSA PLACE D'AFRIQUEGAFSA GAFSA 6, PLACE TAIEB M’HIRI (76) 222.325 225.685 (A) MOULARES GAFSA MOULARES ROUTE DE GAFSA (76) 260.212 260.587 (A) SIDI BOUZID SIDI BOUZID SIDI BOUZID 19, AV. FARHAT HACHED (76) 632.099 632.495 (A) OULED HAFFOUZ SIDI BOUZID OULED HAFFOUZ 19, CITE COMMERCIALE (76) 678.350 678.324 (A) TOZEUR TOZEUR TOZEUR 22, AV.HABIB BOURGUIBA (76) 452.044 462.123 (A) KAIROUAN KAIROUAN KAIROUAN 9, AV. DR. HAMDA LAOUANI (77) 227.401 229.444 (A) KASSERINE KASSERINE KASSERINE 10, PLACE DES MARTYRS (77) 474.700 473.950 (A) JENDOUBA JENDOUBA JENDOUBA 7, AVENUE H. THAMEUR (78) 602.377 604.418 (A) TABARKA JENDOUBA TABARKA 7, RESID. PORT0 CORALLO (78) 673.755 673.763 (A) BEJA BEJA BEJA 2, AVENUE DE FRANCE (78) 451.837 454.281 (A) TAJEROUINE LE KEF TAJEROUINE 11, AV.HABIB BOURGUIBA (78) 277.084 276.373 (A) LE KEF LE KEF LE KEF 11, IMM. CTAMA AV. H. BOURGUIBA (78) 200.506 202.120 (A) JERISSA LE KEF JERISSA 7, CITE HACHED (78) 253.023 253.079 (A) SILIANA SILIANA SILIANA AV.HABIB BOURGUIBA (78) 872.838 872.837
162 Annual Report 2003 Deposit Bank Networks BANK OF TUNISIA
TOWN OR BRANCHES, AGENCIES, NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX OFFICES (B) ARIANA ARIANA ARIANA 32,RUE DES HORTENSIAS (71) 715.152 719.761 AS AT 31 (B) LA SOUKRA ARIANA LA SOUKRA 30, RUE L’ARTISANAT-Z.I.ARIANA-AERP. (71) 700.842 701.313 DECEMBER 2003 (A) HAMMAM-LIF BEN AROUS HAMMAM-LIF 101,AV. DE LA RÉPUBLIQUE (71) 438.233 438.344 (B) RADES BEN AROUS RADES 41,AV.FARHAT HACHED (71) 440.966 442.060 (A) MEGRINE BEN AROUS MEGRINE ROUTE DE SOUSSE Km 5-MEGRINE RIADH (71) 296.255 432.487 (B) MEGRINE CENTRE BEN AROUS MEGRINE CENTRE COMMERCIAL (71) 433.070 433.070 (B) OUED ELLIL MANOUBA OUED ELLIL ROUTE DE MATEUR Km 10 (71) 535.436 536.545 (B) MANOUBA MANOUBA MANOUBA PLACE HABIB BOURGUIBA (71) 520.306 520.313 (A) KSAR SAID MANOUBA KSAR SAID ZONE INDUSTRIELLE-KSAR SAID (71) 546.213 545.788 (S) TUNIS AV. FRANCE TUNIS TUNIS B.BHAR 3,AVENUE DE FRANCE (71) 340.544 352.321 (S) TUNIS RUE DE ROME TUNIS TUNIS B.BHAR 4, RUE DE ROME (71) 340.544 352.321 (B) LE KRAM TUNIS LE KRAM AV.HABIB BOURGUIBA (71) 731.036 730.188 (B) LA GOULETTE TUNIS LA GOULETTE AV. FARHAT HACHED (71) 735.226 736.740 (A) CARTHAGE TUNIS CARTHAGE 103, AV. HABIB BOURGUIBA (71) 789.918 749.436 (B) CHARGUIA TUNIS CHARGUIA 38, RUE 8006 Z.I.CHARGUIA (71) 791.065 771.738 (A) TUNIS BAB SAADOUN TUNIS BAB SOUIKA 35,AVENUE HABIB BOUGATFA (71) 560.578 564.093 (A) TUNIS BAB MENARA TUNIS BAB MENARA 9, BD.BAB MENARA (71) 562.552 565.304 (A) TUNIS AV. LIBERTE TUNIS TUNIS 22,AVENUE DE LA LIBERTE (71) 345.470 333.176 (B) TUNIS BAB EL KHADHRATUNIS BAB KHADHRA 51,AVENUE DE LYON (71) 840.996 780.263 (A) MUTUELLEVILLE TUNIS MUTUELLEVILLE 71, RUE 1ER JUIN-MUTUELLEVILLE (71) 786.040 797.853 (B) EL MANAR II TUNIS EL MANAR II 5,AV. TAHAR BEN AMMAR (71) 883.545 886.849 (B) IBN KHALDOUN TUNIS IBN KHALDOUN ROUTE MC.130 S.SHELL CITE ETTAHRIR (71) 503.030 581.900 (A) TUNIS MOHAMED V. TUNIS TUNIS MED V 51,AVENUE MOHAMED V-TUNIS (71) 788.975 780.490 (A) EL MENZAH TUNIS EL MENZAH 8, ALLEES DE L’ARIANA (71) 233.885 751.299 (A) RUE DE TURQUIE TUNIS TUNIS 2, RUE DE TURQUIE (71) 332.188 346.024 (B) MARSA TUNIS LA MARSA CENTRE ZEPHIR MARSA PLAGE (71) 743.486 743.092 (B) PLACE 7 NOVEMBRE TUNIS TUNIS PLACE 7 NOVEMBRE (71) 338.390 338.390 (B) AVENUE DE FRANCE TUNIS TUNIS 3 AVENUE DE France (71) 259.999 335.126 (A) MENZEL BOURGUIBA BIZERTE M.BOURGUIBA 13, AV. DU 3 AOUT (72) 464.456 463.008 (A) MATEUR BIZERTE MATEUR PLACE DE TUNIS (72) 465.053 466.115 (S) BIZERTE BIZERTE BIZERTE 4, RUE D’ALGERIE (72) 431.963 443.966 (A) GROMBALIA NABEUL GROMBALIA 13,AV.H.BOURGUIBA (72) 255.031 257.307 (B) MENZEL BOUZELFA NABEUL ML.BOUZELFA 50,AV. H.BOURGUIBA (72) 292.496 253.666 (B) BENI KHALLED NABEUL BENI KHALLED AV.7 NOVEMBRE 1987 (72) 371.796 370.511 (B) KORBA NABEUL KORBA AV. HABIB BOURGUIBA (72) 384.017 386.212 (A) HAMMAMET NABEUL HAMMAMET AV. HABIB BOURGUIBA (72) 280.119 281.403 (A) MENZEL TEMIME NABEUL ML.TEMIME AV. HABIB BOURGUIBA (72) 344.831 345.063 (A) NABEUL NABEUL NABEUL AV. HABIB THAMEUR (72) 285.834 222.660 (A) ZAGHOUAN ZAGHOUAN ZAGHOUAN AV. 7 NOVEMBRE (72) 676.481 675.664 (A) MAHDIA MAHDIA MAHDIA PLACE DU 1ER MAI (73) 681.007 695.003 (B) REJICH MAHDIA REJICH AV. HABIB BOURGUIBA (73) 640.087 688.537 (B) KSOUR ESSEF MAHDIA KSOUR.ESSEF 1 AV.HEDI CHAKER (73) 665.838 664.510 (A) MONASTIR MONASTIR MONASTIR PLACE DE L’INDEPENDANCE (73) 461.057 467.377 (B) SAHLINE MONASTIR SAHLINE PLACE 7 NOVEMBRE (73) 525.463 525.464 (A) KSAR HELLAL MONASTIR KSAR HELLAL BD.H. BOURGUIBA (73) 476.109 472.690 (B) SAYADA MONASTIR SAYADA AV. HABIB BOURGUIBA (73) 430.380 430.875 (B) TEBOULBA MONASTIR TEBOULBA PLACE 23 JANVIER 1952 (73) 479.200 492.800 (B) BEKALTA MONASTIR BEKALTA RUE AHMED MACHTA (73) 477.100 477.811 (A) JEMMEL MONASTIR JEMMEL 158,AV.H.BOURGUIBA (73) 486.072 487.877 (S) SOUSSE SOUSSE SOUSSE PLACE DE L’INDEPENDANCE (73) 225.887 226.517 (B) AKOUDA SOUSSE AKOUDA RUE ALI LADHARI (73) 356.333 256.332 (B) HERGLA SOUSSE HERGLA AV. HABIB BOURGUIBA (73) 251.155 251.100 (B) SOUSSE BAB JEDID SOUSSE SOUSSE 21, AV. MOHAMED ALI (73) 226.224 229.622 (B) ENFIDHA SOUSSE ENFIDHA CENTRE COMMERCIAL ENFIDHA (73) 250.490 250.088 (B) SAHLOUL SOUSSE SAHLOUL IMMEUBLE CENTER SAHLOUL (73) 369.605 369.608 (S) SFAX SFAX SFAX AV. HABIB BOURGUIBA (74) 227.417 229.444 Deposit Bank Networks Annual Report 2003 163 BANK OF TUNISIA
BRANCHES, AGENCIES, TOWN OR OFFICES NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX AS AT 31 (B) SFAX BAB JEBLI SFAX SFAX 71,AV. DES MARTYRS (74) 223.281 223.798 DECEMBER 2003 (B) SFAX NASRIA SFAX S.NASRIA ROUTE DE GREMDA (74) 242.645 241.852 (B) SFAX MOULIN VILLE SFAX S. MOULIN VILLE ROUTE BOURJ BOURGUIBA (74) 238.688 238.092 (A) GABES GABES GABES AV. HABIB BOURGUIBA (75) 270.093 275.063 (B) EL HAMMA GABES EL HAMMA 51,AV.H.BOURGUIBA (75) 331.108 331.941 (A) ZARZIS MEDENINE ZARZIS AV.HABIB BOURGUIBA (75) 694.024 684.971 (A) JERBA HOUMET SOUK MEDENINE JERBA.H.SOUK AV.HABIB BOURGUIBA (75) 650.005 651.496 (B) JERBA MIDOUN MEDENINE JERBA MIDOUN CENTRE COMMERCIAL (75) 657.688 658.064 (A) BEN GUERDANE MEDENINE B.GUERDANE 12, AV. 2 MARS 1934- (75) 710.031 711.413 (A) MEDENINE MEDENINE MEDENINE RUE 18 JANVIER (75) 642.937 643.063 (A) GAFSA GAFSA GAFSA 12, RUE MILOUD (76) 224.022 225.653 (B) TOZEUR TOZEUR TOZEUR 113, AV.HABIB BOURGUIBA (76) 461.777 462.550 (A) KAIROUAN KAIROUAN KAIROUAN AV. DOCTEUR LAOUANI (77) 229.244 226.677 (B) SIDI AMOR BOUHAJLA KAIROUAN A.BOUHAJLA RUE H.THAMEUR. (77) 266.065 266.228 (A) BEJA BEJA BEJA 31,AVENUE DE FRANCE (78) 340.544 452.386 (A) MEDJEZ EL BAB BEJA MZ EL BAB AV.FARHAT HACHED (78) 460.014 460.620 (A) JENDOUBA JENDOUBA JENDOUBA 14,RUE TAIEB M’HIRI (78) 603.015 603.793 (A) BOU SALEM JENDOUBA BOUSALEM RUE KHEREDDINE-BOUSALEM (78) 639.821 638.289 (A) GHARDIMAOU JENDOUBA GHARDIMAOU AV.H.BOURGUIBA (78) 660.016 660.288 (A) TABARKA JENDOUBA TABARKA RUE DE LA DÉLÉGATION RÉSID-LE CORAIL (78) 670.799 671.466 (A) LE KEF LE KEF LE KEF 2,RUE D’ALGER (78) 200.768 202.858 (B) DAHMANI LE KEF DAHMANI PLACE 7 NOVEMBRE (78) 280.053 280.345 (A) SILIANA SILIANA SILIANA AV. DE L’INDÉPENDANCE (78) 870.033 870.419
164 Annual Report 2003 Deposit Bank Networks BANKING UNION FOR TRADE AND INDUSTRY
TOWN OR BRANCHES, AGENCIES, NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX OFFICES (S) AGENCE BOURGUIBA TUNIS TUNIS 74, AV. HABIB BOURGUIBA (71) 325.877 322.767 AS AT 31 (A) AV. CARTHAGE TUNIS BAB BHAR 39,AVENUE DE CARTHAGE (71) 345.763 346.378 DECEMBER 2003 (A) TUNIS LAFAYETTE TUNIS BAB BHAR 1,RUE D’EGYPTE (71) 833.162 833.551 (A) TUNIS MEDINA TUNIS MEDINA 19-21,RUE SIDI BEN AROUS (71) 564.756 569.830 (A) TUNIS LAC TUNIS TUNIS IMM. L’ETOILE DU LAC-BERGES DU LAC (71) 861.824 860.699 (A) LA MARSA TUNIS LA MARSA CENTRE PHENICIA-AV.H.BOURGUIBA (71) 740.909 741.165 (A) CARTHAGE DERMECH TUNIS CARTHAGE 50,AV.HABIB BOURGUIBA (71) 734.444 734.311 (S) ESSADKIA TUNIS BAB BHAR 7-9 RUE JAMEL ABDENACEUR (71) 325.877 327.858 (A) PASTEUR TUNIS BAB BHAR 1,RUE PLACE PASTEUR (71) 842.000 287.906 (A) EL MENZAH VI TUNIS EL MENZAH VI CITE JAMIL (71) 750.119 752.328 (A) ENNASR TUNIS EL MENZAH 10, AV. OTHMAN IBN. AFFENE (71) 827.574 827.575 (A) AGENCE 7 NOVEMBRE TUNIS TUNIS 24-26 PLACE DU 7 NOVEMBRE 1987 (71) 240.034 240.210 (A) BARDO TUNIS BARDO 38- AV. HABIB BOURGUIBA (71) 502.829 502.834 (A) MONPLAISIR TUNIS TUNIS PACHA CENTRE, AVENUE KHEREDDINE PACHA (71) 950.082 950.137 (A) LES JARDINS DE SOUKRA ARIANA SOUKRA 56, CENTRE COMMERCIAL CARREFOUR (71) 759.521 759.531 (A) CHARGUIA II ARIANA CITÉ KHADRA 8, RUE DE L’ARTISANAT (71) 941.555 941.354 (A) ARIANA ARIANA ARIANA ANG. HABIB BOURGUIBA.R. FARHAT H. (71) 700.000 700.314 (A) EL MANAR ARIANA EL MANAR RUE 7105 CITE DES ARCADES (71) 886.310 885.940 (S) MEGRINE BEN AROUS MEGRINE 64,AV. HABIB BOURGUIBA (71) 433.866 433.980 (A) HAMMAM LIF BEN AROUS HAMMAM LIF 58- AV. DE LA REPUBLIQUE (71) 293.403 293.433 (A) MANOUBA MANOUBA MANOUBA 7,AV.H.BOURGUIBA (71) 427.511 425.214 (A) BIZERTE BIZERTE BIZERTE 24- AV. HABIB BOURGUIBA-BIZERTE (72) 431.424 433.689 (A) NABEUL NABEUL NABEUL NABEUL CENTRE AV.H.THAMEUR (72) 287.675 286.970 (A) HAMMAMET NABEUL HAMMAMET PLACE 2 MARS CITE COMMMERCIALE (72) 281.237 260.244 (A) MENZEL BOUZELFA NABEUL M.BOUZELFA AV.HABIB BOURGUIBA (72) 292.232 292.114 (A) KELIBIA NABEUL KELIBIA 123, AV. ALI BEL HAOUENE (72) 273.624 273.623 (S) SOUSSE 7 NOVEMBRE SOUSSE SOUSSE Bld DU 7 NOVEMBRE-KHEZAMA EST (73) 270.995 270.956 (A) SOUSSE MAAROUF SOUSSE SOUSSE IM.GLOULOU Bld MAAROUF (73) 227.600 227.157 (A) AGENCE SOUSSE PERLE SOUSSE SOUSSE PERLE AVENUE PERLE GP1 (73) 240.700 240.704 (A) MONASTIR MONASTIR MONASTIR 8,PLACE DU 3 SEPTEMBRE 1934 (73) 464.120 464.373 (A) BEMBLA MONASTIR BEMBLA BEMBLA BOULEVARD 7 NOVEMBRE (73) 478.450 478.440 (A) KSAR HELLAL MONASTIR KSAR HELLAL PLACE DE L’INDEPENDANCE (73) 472.124 472.126 (A) MAHDIA MAHDIA MAHDIA 167, AV. H. BOURGUIBA (73) 692.377 696.579 (S) SFAX CHEBBI SFAX SFAX 12,RUE ABOULKACEM CHEBBI (74) 228.011 298.126 (A) SFAX CHAKER SFAX SFAX 19,AV. HEDI CHAKER (74) 296.989 212.220 (A) SFAX MEDINA SFAX SFAX 79,RUE SIDI BELHASSEN (74) 299.726 299.725 (A) SFAX EL JEDIDA SFAX SFAX 96,AV.DES MARTYRS (74) 404.574 404.580 (A) SFAX TENIOUR SFAX SFAX ROUTE DE TENIOUR Km1,5. IMM. MALEK (74) 238.054 238.055 (A) MAHRES SFAX MAHRES AV.H.BOURGUIBA (74) 290.216 693.400 (A) SEKIET EDDAIER SFAX S.EDDAIER 1,2 ,AV.H.BOURGUIBA (74) 292.564 292.597 (A) POUDRIÈRE SFAX SFAX POUDRIÈRE RUE JAMELEDDINE AFGHANI (74) 286.445 286.350 (A) PIC. VILLE SFAX PIC VILLE AV. D’ALGÉRIE (74) 225.703 229.424 (A) GABES GABES GABES 226,, AV. FARHAT HACHED (75) 271.557 275.047 (A) DJERBA MEDENINE DJERBA 163,AV.HABIB BOURGUIBA. (75) 651.711 651.710 (A) GAFSA GAFSA GAFSA 9-10- CITE BAYECH (76) 225.635 220.641 (A) SIDI BOUZID SIDI BOUZID SIDI BOUZID RUE HOUCINE BOUZAIENE (76) 632.851 633.652 (A) KAIROUAN KAIROUAN KAIROUAN RUE MONGI BALI (77) 230.699 234.997
Deposit Bank Networks Annual Report 2003 165 ARAB TUNISIAN BANK
BRANCHES, AGENCIES, TOWN OR OFFICES NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX AS AT 31 (A) SIEGE TUNIS TUNIS 9, RUE HEDI NOUIRA (71) 347.274 347.270 DECEMBER 2003 (A) EL JAZIRA TUNIS TUNIS 31 RUE EL JAZIRA (71) 327.141 327.028 (A) INTERNATIONALE TUNIS TUNIS l0,AVENUE MED V (71) 348.501 347.308 (A) EL MECHTEL TUNIS EL OMRANE 34, OULED HAFFOUZ (71) 791.603 793.212 (A) LA MARSA TUNIS LA MARSA PLACE 7 NOVEMBRE (71) 749.304 744.104 (A) KRAM TUNIS KRAM NORD 227 AVENUE HABIB BOURGUIBA (71) 730.995 731.630 (A) BARDO TUNIS BARDO AV. BAYREM TOUNSI N°2 bis (71) 515.125 507.799 (A) MUTUELLEVILLE TUNIS TUNIS 114, AV. JUGURTHA-MUTUELLEVILLE (71) 840.514 841.251 (A) BERGES DU LAC TUNIS LAC DE TUNIS LES BERGES DU LAC-IMM.BADR. TUNIS (71) 860.044 861.523 (A) MONTPLAISIR TUNIS TUNIS RUE 8005-MONTPLAISIR (71) 802.322 782.090 (A) LA LIBERTE TUNIS TUNIS AVENUE LA LIBERTE (71) 289.886 289.008 (A) CHARGUIA TUNIS CHARGUIA IMMEUBLE SAWARBY CENTRE URBAIN NORD (71) 232.022 750.590 (A) EL MENZAH ARIANA EL MENZAH VI RUE DE LA LIBERTÉ EL MENZAH VI (71) 767.230 767.081 (A) ARIANA ARIANA ARIANA ANGLE AV.A.KHABTANI/H.KHEFACHA (71) 702.430 703.463 (A) SAADI ARIANA EL MENZAH IMM.SAADI - EL MENZEAH 4 (71) 705.232 705.237 (A) EL MANAR ARIANA EL MANAR 2, RUE YOUSSEF ROUISSI (71) 889.224 889.256 (A) MEGRINE BEN AROUS MEGRINE 21,RUE DU PLASTIQUE Z.IND.SIDI RZIG (71) 425.265 434.855 (B) HAMMAMET NABEUL HAMMAMET 10, AV. DE LA RÉPUBLIQUE (72) 283.066 282.610 (A) HAMMAMET NABEUL HAMMAMET 6, AVENUE HABIB BOURGUIBA (72) 262.517 281.881 (A) NAHRAWESS NABEUL HAMMAMET N. ROUTE TOURISTIQUE NORD (72) 283.944 283.946 (A) NABEUL NABEUL NABEUL 43 AVENUE H. BOURGUIBA (72) 286.581 221.667 (A) BIZERTE BIZERTE BIZERTE RUE DU 1ER JUlN (72) 422.190 433.878 (A) METLINE BIZERTE METLINE ANG.F. HACHED ET RUE RACHID NAJJAR (72) 446.065 446.288 (A) SOUSSE SOUSSE SOUSSE MEDINA ANG. RUE DE L ‘HOTEL DE Vl LLE ET AV. MED V (73) 227.354 225.056 (A) SOUSSE KHEZAMA SOUSSE KHEZAMA BD. ENNAKHIL - KHEZAMA EST (73) 244.488 244.492 (A) MONASTIR MONASTIR EL MEDINA AV. DU COMBATTANT SUPREME CITE CNRPS (73) 448.639 464.300 (A) CHORBENE MAHDIA CHORBENE AVENUE HABIB BOURGUIBA (73) 600.245 600.250 (A) SFAX I SFAX SFAX VILLE 49, AVENUE H. BOURGUIBA (74) 297.790 229.211 (A) SFAX II SFAX SFAX EL ANSAR AV. D’ALGERIE-CITE SIOS ZITEX (74) 297.380 297.387 (A) GREMDA SFAX GREMDA ROUTE DE GREMDA - Km5 (74) 261.660 261.759 (A) GABES GABES GABES 75, AVENUE HABIB BOURGUIBA (75) 275.940 273.255 (A) JERBA MEDENINE HOUMT S0UK AVENUE ABDELHAMID EL KADHI (75) 652.580 651.752 (B) JERBA MIDOUN MEDENINE J. MIDOUN ROUTE ENNADHOUR JERBA (75) 602.420 602.416 (A) KAIROUAN KAIROUAN KAIROUAN ANGLE RUE H. THAMEUR & 2 MARS 1934 (77) 234.033 231.923 (A) BEJA BEJA BEJA 11 RUE KAID JAWHAR-SIDI BOUTEFFAHA (78) 458.511 455.114 (A) JENDOUBA JENDOUBA JENDOUBA SUD ANG. RUE ALI BELHAOUDANE EL H. CHAKER (78) 605.270 601.675
166 Annual Report 2003 Deposit Bank Networks AMEN BANK
TOWN OR BRANCHES, AGENCIES, NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX OFFICES (S) SIEGE TUNIS TUNIS AV. MOHAMED V (71) 835.500 833.517 AS AT 31 (S) AVENUE DE FANCE TUNIS TUNIS 13, AV. DE FRANCE (71) 340.511 344.442 DECEMBER 2003 (A) P. PASTEUR TUNIS TUNIS 150, AV. DE LA LIBERTE (71) 780.741 789.560 (A) LA MARSA TUNIS LA MARSA 44, AV.TAIEB M’HIRI (71) 740.704 741.445 (A) LA FAYETTE TUNIS TUNIS 54, RUE D’IRAN (71) 783.120 841.153 (A) LE KRAM TUNIS LE KRAM 204, AV. HABIB BOURGUIBA- (71) 730.253 731.266 (A) LES OLYMPIADES TUNIS TUNIS Imm. B. Mahmoud Bloc N°1 Cité OLYMP. (71) 808.668 792.716 (A) TAIEB M’HIRI TUNIS TUNIS 51Bis,AV.TAIEB M’HIRI (71) 797.040 844.518 (A) KHEIREDDINE PACHA TUNIS TUNIS 47- AVENUE KHEREIDDINE PACHA (71) 844.960 844.047 (A) LES BERGES DU LAC TUNIS TUNIS CITE EL HABIB IMM. BEN MAHMOUD (71) 724.303 792.719 (A) CHARGUIA TUNIS TUNIS 5 RUE 8612 - Z.I.LA CHARGUIA (71) 796.946 799.327 (A) ALAIN SAVARY TUNIS TUNIS 71, AV. ALAIN SAVARY (71) 770.255 772.576 (A) EL MENZAH I. TUNIS EL MENZAH ANGLE RUE ERRASSAS ET RUE H’MIDI (71) 752.582 752.787 (A) EL MANAR TUNIS EL MENZAH CENTRE COMMERCIAL LE PARADIS (71) 885.595 885.583 (A) DR BURNET TUNIS TUNIS 39,RUE DR.BURNET MUTUELLE VILLE (71) 792.729 780.858 (A) PLACE BARCELONE TUNIS TUNIS 1 RUE DE Belgique (71) 321.104 324.239 (A) P. D’AFRIQUE TUNIS TUNIS 34,AV.HABIB BOURGUIBA (71) 336.306 335.620 (A) MONTFLEURY TUNIS TUNIS 57,AV.DU SAHEL (71) 392.966 397.764 (A) BAB EL ALOUJ TUNIS TUNIS 2 RUE TESTOUR (71) 565.602 568.798 (A) EL OMRANE TUNIS TUNIS 41,Bd. HEDI SAIDI (71) 897.112 563.020 (A) LE PASSAGE TUNIS TUNIS ANGLE AV.HABIB THAMEUR ET AV. PARIS (71) 348.422 343.721 (A) BAB EL KHADHRA TUNIS TUNIS 4 Bld R. SFAR et 7 R. DE LAVERDURE (71) 561.253 567.781 (A) SOUK ETTROUK TUNIS TUNIS 26, SOUK ETTROUK-BAB MNARA (71) 562.283 568.262 (A) LE BARDO TUNIS LE BARDO 139,AV.DU 20 MARS (71) 517.600 500.413 (A) BAB SOUIKA TUNIS TUNIS 93, PLACE BAB SOUIKA (71) 573.909 573.930 (A) BAB JEDID TUNIS TUNIS 55, BLD BAB MNARA (71) 571.638 571.678 (A) EL MANAR CAMPUS TUNIS EL MANAR CENTRE COMMERCIAL AMILCAR (71) 885.200 885.222 (A) MED V TUNIS TUNIS AV. MED V (71) 835.500 831.630 (A) JARDIN D’EL MENZAH TUNIS EL MENZAH RUE 7400 LES JARDINS D'EL MENZAH (71) 887.711 873.377 (B) ETTAHRIR TUNIS ETTAHRIR RESIDENCE ZARROUK, ROUTE KSAR SAID (71) 505.416 505.419 (A) EL MENZAH VI ARIANA EL MENZAH CITE JAMIL-EL MENZAH VI (71) 767.022 767.729 (A) ARIANA ARIANA ARIANA AV. ALI BELHAOUANE (71) 715.903 711.241 (A) SIDI THABET ARIANA SIDI THABET AV.7 NOVEMBRE 1987 (71) 552.084 552.231 (A) KALAAT EL ANDALOUS ARIANA K.EL ANDALOUS 1Bis. AV. HABIB BOURGUIBA (71) 558.104 558.318 (A) SOUKRA ARIANA ARIANA AVENUE U.M.A (71) 945.440 945.845 (A) ENNASR(2) ARIANA ENNASR ANGLE DES AV.HEDI NOUIRA ET NLLE ERE (71) 828.700 828.555 (A) BEN AROUS BEN AROUS BEN AROUS 80, AV. DE France CARREFOUR GP1 (71) 384.122 381.550 (A) HAMMAM-LIF BEN AROUS HAMMAM-LIF 52,AV.DE LA REPUBLIQUE (71) 439.943 439.876 (A) MEGRINE BEN AROUS MEGRINE ANGLE H.BOURGUIBA/L.HADDAD (71) 297.476 426.825 (A) RADES BEN AROUS RADES AV. HABIB BOURGUIBA (71) 442.700 440.944 (A) EL MOUROUJ BEN AROUS EL MOUROUJ AVENUE DES MARTYRS EL MOUROUJ I (71) 790.377 832.746 (A) RADES PORT BEN AROUS RADES PORT RADES (71) 449.700 448.017 (A) JEDEIDA MANOUBA JEDEIDA 16 ET 17 AVENUE TAIEB M'HIRI (71) 539.140 539.386 (A) BIZERTE BIZERTE BIZERTE 99, AV. HABIB BOURGUIBA-BIZERTE (72) 431.668 432.675 (A) NABEUL NABEUL NABEUL 78 AV. FARHAT HACHED (72) 286.000 286.016 (A) KELIBIA NABEUL KELIBIA 2,RUE IBN KHALDOUN (72) 296.372 296.785 (A) BENI KHIAR NABEUL BENI KHIAR AV. HABIB BOURGUIBA (72) 229.015 229.344 (A) HAMMAMET NABEUL HAMMAMET AV. HABIB BOURGUIBA (72) 281.215 281.388 (A) GROMBALIA NABEUL GROMBALIA AV. HABIB BOURGUIBA (72) 255.978 256.017 (A) KORBA NABEUL KORBA AV. H.BOURGUIBA CENTRE SITKO (72) 388.855 389.255 (B) SOLIMAN NABEUL SOLIMAN AVENUE H. BOURGUIBA (72) 792.730 390.870 (A) SOUSSE PORT SOUSSE SOUSSE AV.MOHAMED V. (73) 224.029 227.128 (A) HAMMAM-SOUSSE SOUSSE H.SOUSSE 251GP1. EL MENCHIA-SOUSSE (73) 360.800 363.,339 (A) SOUSSE SENGHOR SOUSSE SOUSSE RUE L.S. SENGHOR SOUSSE-GP1 (73) 228.086 227.433 (A) M’SAKEN SOUSSE M’SAKEN AV. DR. TAIEB HACHICHA (73) 258.444 259.776 (A) SOUSSE KHEZAMA SOUSSE SOUSSE BOULEVARD 7 NOVEMBRE-KHEZAMA (73) 272.072 271.910 Deposit Bank Networks Annual Report 2003 167 AMEN BANK
BRANCHES, AGENCIES, TOWN OR OFFICES NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX AS AT 31 (B) SOUSSE ERRIADH SOUSSE SOUSSE RUE DE LA CEINTURE CITÉ ERRIADH (73) 303.956 303.955 DECEMBER 2003 (A) KSAR HELAL MONASTIR KSAR HELAL PLE DE L’INDEPENDANCE (73) 472.994 472.737 (A) MONASTIR MONASTIR MONASTIR CITE CNRPS RTE DE KAIROUAN (73) 464.433 464.432 (A) MAHDIA MAHDIA MAHDIA 104, AV. HABIB BOURGUIBA (73) 680.888 695.809 (A) SFAX CHAKER SFAX SFAX AV. HEDI CHAKER-SFAX (74) 220.138 229.245 (A) SFAX MEDINA SFAX SFAX ANGLE RUE MALEK ET RUE NOTAIRE (74) 211.944 212.721 (A) SFAX GREMDA SFAX SFAX ROUTE DE GREMDA KM.1 (74) 246.098 246.222 (A) SFAX JEDIDA SFAX SFAX AV. DES MARTYRS-SFAX JEDIDA (74) 408.189 408.849 (A) SFAX ARIANA SFAX SFAX GP1 KM0,5 - SFAX MOULIN VILLE (74) 225.660 225.660 (A) SFAX POUDRIERE SFAX SFAX RTE SIDI MANSOUR SFAX POUDRIERE (74) 212.060 212.061 (B) SFAX MENZEL CHAKER SFAX SFAX MERKEZ SELLAMI (74) 285.292 285.294 (A) GABES JARA GABES GABES 124 AV. FARHAT HACHED (75) 276.066 271.092 (A) MARETH GABES MARETH RUE D'ALGER GP1 (75) 321.300 321.510 (B) GHANNOUCH GABES GHANNOUCH AV. 7 NOVEMBRE (75) 225.164 225.025 (A) JERBA HOUMT SOUK MEDENINE JERBA AV. HABIB BOURGUIBA (75) 652.666 652.890 (A) JERBA MIDOUN MEDENINE JERBA M. ROUTE DE MAHBOUBINE, AV.FARHAT HACHED (75) 730.666 730.297 (B) MEDENINE MEDENINE MEDENINE PLACE SENIET ESSOUK (75) 640.879 642.526 (A) ZARZIS MEDENINE ZARZIS AV. MOHAMED V (75) 694.850 694.852 (A) JERBA AJIM MEDENINE JERBA 16 AV. 7 NOVEMBRE (75) 660.074 660.482 (A) JERBA EL MAY MEDENINE JERBA Rte DE MIDOUN AV. DE LA REP. (75) 676.243 676.177 (B) TATAOUINE MEDENINE TATAOUINE ANGLE AV.F.HACHED/AV. 1erJANVIER (75) 862.065 862.063 (B) TOZEUR TOZEUR TOZEUR COMPL. TOURIS. DAR CHRAIET (76) 454.455 454.439 (A) KAIROUAN KAIROUAN KAIROUAN RUE 2 MARS 1934 (77) 233.600 230.031 (A) BEJA BEJA BEJA AV.HABIB BOURGUIBA (78) 450.020 452.429
FRANCO-TUNISIAN BANK
TOWN OR NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX (A) ARIANA ARIANA ARIANA 89, Bis AV.H. BOURGUIBA-ARIANA (71) 718.932 718.932 (A) MARCHÉ GROS BEN AROUS BEN AROUS SOTUMAG (71) 389.932 389.932 (A) CENTRALE TUNIS TUNIS 13, RUE D’ALGER TUNIS (71) 344.545 348.466 (A) LA MONNAIE TUNIS TUNIS 42, RUE HEDI NOUIRA (71) 349.022 346.223 (A) JAZIRA TUNIS TUNIS 11, RUE BAB DJEDID TUNIS (71) 323.499 323.499 (A) MONTPLAISIR TUNIS TUNIS RUE 8006 -MONTPLAISIR (71) 894.920 980.624 (A) SFAX SFAX SFAX 9, RUE LEOPOLD SENGHOR- SFAX (74) 228.407 228.202
ARAB BANKING CORPORATION
TOWN OR NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX
(A) LES BERGES DU LAC TUNIS LES BERGES DU LAC 2045, LES BERGES DU LAC (71) 861.861 861.406 (A) NABEUL NABEUL NABEUL 113, AV. H. BOURGUIBA (72) 233.808 233.277 (A) SOUSSE SOUSSE SOUSSE BLVD 7 NOVEMBRE -SOUSSE (73) 244.800 244.820 (A) SFAX SFAX SFAX BLVD 7 NOVEMBRE-SFAX (74) 403.999 404.909
168 Annual Report 2003 Deposit Bank Networks CITIBANK TUNIS ONSHORE BRANCH
TOWN OR BRANCHES, AGENCIES, NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX OFFICES (A) SFAX SFAX SFAX AV.DES MARTYRS (74) 401.200 401.150 AS AT 31 DECEMBER 2003
TUNISIAN SOLIDARITY BANK
TOWN OR NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX (A) TUNIS TUNIS TUNIS 56, AV.MOHAMED V (71) 843.897 842.193
NORTH AFRICA INTERNATIONAL BANK
TOWN OR NAME OF THE AGENCY GOVERNORATE LOCALITY ADRESS TELEPHONE FAX (A) AGENCE CENTRALE TUNIS TUNIS BOURJEL AV.KHEIREDDINE PACHA (71) 950.800 950.840 (A) BIZERTE BIZERTE BIZERTE CENTRE 52, CENTRE COMMERCIAL (72) 422.100 422.533
Deposit Bank Networks Annual Report 2003 169 THE BANKING POPULATION IN 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn TREND IN BANKS’ PERSONNEL (Deposit, Development Banks and Other Members ) during the period 1992/2003
TABLE I
YEAR TOTAL NUMBER OF EMPLOYEES RATE OF INCREASE 1992 13 777 3.67% 1993 14 323 3.96% 1994 15 110 5.49% 1995 15 579 3.10% 1996 15 606 0.17% DEPOSIT 1997 15 924 2.04% BANKS 1998 16 136 1.33% 1999 16 395 1.61% 2000 16 837 2.70% 2001 16 975 0.82% 2002 17 041 0.39% 2003 16 917 -0.73%
1992 830 2.98% 1993 871 4.94% 1994 886 1.72% 1995 894 0.90% 1996 895 0.11% DEVELOPMENT 1997 906 1.23% BANKS 1998 913 0.77% 1999 915 0.22% 2000 560 -38.80% 2001 533 -4.82% 2002 528 -0.94% 2003 505 -4.36
OTHER 2001 83 - MEMBERS 2002 510 514.46% 2003 539 5.69%
1992 14 607 3.63% 1993 15 194 4.02% 1994 15 996 5.28% 1995 16 473 2.98% GENERAL 1996 16 501 0.17% TOTAL 1997 16 830 1.99% 1998 17 049 1.30% 1999 17 310 1.53% 2000 17 397 0.50% 2001 17 591 1.12% 2002 18 079 2.77% 2003 17 961 -0.65% Other Members include Financial Institutions, Offshore Banks (NAIB), Business Banks (BAT), and Collection Companies.
172 Annual Report 2003 The Banking Population in 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
DEPOSIT BANKS
DEVELOPMENT
BANKS
DEPOSIT, DEVELOPMENT BANKS AND OTHER MEMBERS
The Banking Population in 2003 Annual Report 2003 173 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
174 Annual Report 2003 The Banking Population in 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
DEPOSIT BANK OVERALL MANPOWER
STAFF STRUCTURE UPPER SERVICESTAFF MANAGEMENT 3.7% CLERICALSTAFF BY PROFESSIONAL 17.2% 25.3% STAFF
MANAGERS 28.4% SUPERVISORY STAFF 25.4%
OVER UNDER 55 25 STAFF STRUCTURE 50-55 7.3% 0.6% 25-35 11.9% 24.3% BY AGE
35-50 55.9%
FEMALE MALE STAFF STRUCTURE 33.6% 66.4% BY GENDER
The Banking Population in 2003 Annual Report 2003 175 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
STAFF AT DEVELOPMENT BANK AS AT 31 DECEMBER 2003
TABLE III
BANKS BTKD STUSID BTEI BTL BTQI TOTAL
TOTAL NUMBER OF EMPLOYEES 149 99 74 128 55 505
PROFESSIONAL STAFF • Service staff 9 23 1 7 1 41 • Clerical staff 33 11 19 28 14 105 • Supervisory managers 30 4 13 19 18 84 • Managers 32 30 18 43 10 133 • Upper management 45 31 23 31 12 142
AGE • Under 25 2 0 0 1 0 3 • Between 25-35 44 19 5 53 7 128 • Between 35-50 74 51 54 64 34 277 • Between 50-55 19 21 12 5 11 68 • Over 55 10 8 3 5 3 29
GENDER • Male 83 54 43 80 30 290 • Female 66 45 31 48 25 215
MARITAL STATUS • Married 118 72 55 88 50 383 • Unmarried 31 27 19 40 5 122
176 Annual Report 2003 The Banking Population in 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
DEVELOPMENT BANK
OVERALL MANPOWER
SERVICESTAFF UPPER 8.1% MANAGEMENT 28.1% CLERICAL STAFF 20.8% STAFF STRUCTURE BY PROFESSIONAL STAFF
SUPERVISORY STAFF MANAGERS 16.6% 26.4%
OVER UNDER 55 25 50-55 5.7% 0.6% 25-35 13.5% 25.3% STAFF STRUCTURE BY AGE
35-50 54.9%
FEMALE MALE STAFF STRUCTURE 42.6% 57.4% BY GENDER
The Banking Population in 2003 Annual Report 2003 177 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
STAFF AT FINANCIAL INSTITUTIONS AS AT 31 DECEMBER 2003
TABLE IV
FACTORING FINANCIAL LEASING COMPANIES COMPANIES INSTITUTIONS MODERN EL WIFAC K HANNIBAL TOTAL T.L U.T.L C.I.L A.T.L A.L G.L A.I.L T.F UNIFACTOR LEASING LE A S I N G LEASE TO T AL NUMBER OF EMPLOYEES 83 38 50 60 37 52 37 17 5 7 32 21 439
PROFESSIONAL STAFF • Service staff 9 0 4 5 3 19 4 0 1 1 2 1 49 • Clerical staff 11 6 12 20 8 3 4 5 1 1 11 5 87 • Supervisory staff 15 791156 41 0 11 51 • Managers 37 17 13 30 17 18 14 5 1 2 13 11 178 • Upper management 11 8 12 4 8 7 9 3 1 3 5 3 74
AGE • Under 25 3001003 21 1 2 0 13 • Between 25-35 44 24 29 41 18 44 14 7 4 3 24 14 266 • Between 35-50 29 11 17 17 16 6 20 8 0 2 5 6 137 • Between 50-55 7130210 00 1 0 1 16 • Over 55 021111000 0 10 7
GENDER • Male 65 27 40 46 27 34 26 11 2 4 19 12 313 • Female 18 11 10 14 10 18 11 6 3 3 13 9 126
MARITAL STATUS • Married 51 28 34 38 31 31 26 12 3 2 19 10 285 • Unmarried 32 10 16 22 6 21 11 5 2 5 13 11 154
178 Annual Report 2003 The Banking Population in 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
FINANCIAL INSTITUTIONS OVERALL MANPOWER
SERVICESTAFF UPPER 11.2% MANAGEMENT 16.9% CLERICAL STAFF 19.8% STAFF STRUCTURE BY PROFESSIONAL STAFF
SUPERVISORY STAFF MANAGERS 11.6% 40.5%
OVER UNDER 50-55 55 25 35-50 3.6% 1.6% 3.0% STAFF STRUCTURE 31.2% 25-35 60.6% BY AGE
MALE STAFF STRUCTURE FEMALE 71.3% 28.7% BY GENDER
The Banking Population in 2003 Annual Report 2003 179 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
STAFF AT OTHER MEMBER INSTITUTIONS AS AT 31 DECEMBER 2003
TABLE V
OFFSHORE BUSINESS BANKS BANKS COLLECTION COMPANIES INSTITUTIONS TOTAL STÉ SUD STÉ. RAPID NAIB BAT SOFINREC STRC SGRC IRC EL ISTIFA RECOUV. CIAR RECOUVREMENT Total Number of employees 91 9 N.A N.A N.A N.A N.A N.A N.A N.A 100
PROFESSIONAL STAFF • Service staff 0 2 n.a n.a n.a n.a n.a n.a n.a n.a 2 • Clerical staff 30 1 n.a n.a n.a n.a n.a n.a n.a n.a 31 • Supervisory staff 15 1 n.a n.a n.a n.a n.a n.a n.a n.a 16 • Managers 25 1 n.a n.a n.a n.a n.a n.a n.a n.a 26 • Upper management 21 4 n.a n.a n.a n.a n.a n.a n.a n.a 25
AGE • Under 25 0 2 n.a n.a n.a n.a n.a n.a n.a n.a 2 • Between 25- 35 43 4 n.a n.a n.a n.a n.a n.a n.a n.a 47 • Between 35- 50 40 2 n.a n.a n.a n.a n.a n.a n.a n.a 42 • Between 50-55 6 1 n.a n.a n.a n.a n.a n.a n.a n.a 7 • Over 55 2 0 n.a n.a n.a n.a n.a n.a n.a n.a 2
GENDER • Male 64 6 n.a n.a n.a n.a n.a n.a n.a n.a 70 • Female 27 3 n.a n.a n.a n.a n.a n.a n.a n.a 30
MARITAL STATUS • Married 66 5 n.a n.a n.a n.a n.a n.a n.a n.a 71 • Unmarried 25 4 n.a n.a n.a n.a n.a n.a n.a n.a 29
na. : not available. SOFINREC : Financial Claim Collection Company. STRC :Tunisian Claim Collection Company. IRC : Claim Collection Group. CIAR : Arab International Collection Company. SGRC : General Claim Collection Company.
180 Annual Report 2003 The Banking Population in 2003 Tunisia’s Professional Association for Banks and Financial Institutions WebSite : www.apbt.org.tn
The Banking Population in 2003 Annual Report 2003 181 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
182 Annual Report 2003 The Banking Population in 2003 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
BANKING STAFF STRUCTURE BY GENDER AS AT 31 DECEMBER 2003
TABLE VIII
TOTAL NUMBER MALE FEMALE BANKS YEAR OF EMPLOYEES NBER (1) % (2) % NBER (1) % (2) % 1991 13 289 9 171 3.00 69.01 4 118 2.59 30.99 1992 13 777 9 489 3.47 68.88 4 288 4.13 31.12 1993 14 323 9 830 3.59 68.63 4 493 4.78 31.37 1994 15 110 10 366 5.45 68.60 4 744 5.59 31.40 1995 15 579 10 587 2.13 67.96 4 992 5.23 32.04 1996 15 606 10 498 -0.84 67.27 5 108 2.32 32.73 DEPOSIT 1997 15 924 10 744 2.34 67.47 5 180 1.41 32.53 BANKS 1998 16 136 10 892 1.38 67.50 5 244 1.24 32.50 1999 16 395 10 968 0.70 66.90 5 427 3.49 33.10 2000 16 837 11 232 2.41 66.71 5 605 3.28 33.29 2001 16 975 11 285 0.47 66.48 5 690 1.52 33.52 2002 17 041 11 298 0.12 66.30 5 743 0.93 33.70 2003 16 917 11 228 -0.62 66.37 5 689 -0.94 33.63 1991 806 529 4.96 65.63 277 11.69 34.37 1992 830 541 2.27 65.18 289 4.33 34.82 1993 871 558 3.14 64.06 313 8.30 35.94 1994 886 570 2.15 64.33 316 0.96 35.67 1995 894 570 0.00 63.76 324 2.53 36.24 1996 895 561 -1.58 62.68 334 3.09 37.32 1997 906 571 1.78 63.02 335 0.30 36.98 DEVELOPMENT 1998 913 566 -0.88 61.99 347 3.58 38.01 BANKS 1999 915 566 0.00 61.86 349 0.58 38.14 2000 560 330 -41.70 58.93 230 -34.10 41.07 2001 533 311 -5.76 58.35 222 -3.48 41.65 2002 528 309 -0.64 58.52 219 -1.35 41.48 2003 505 290 -6.15 57.43 215 -1.83 42.57 2001 83 58 69.88 25 30.12 OTHER 2002 510 371 539.66 72.75 139 456.00 27.25 MEMBERS 2003 539 383 3.23 71.06 156 12.23 28.94 1991 14 095 9 700 3.10 68.82 4 395 3.12 31.18 1992 14 607 10 030 3.40 68.67 4 577 4.14 31.33 1993 15 194 10 388 3.57 68.37 4 806 5.00 31.63 1994 15 996 10 936 5.28 68.37 5 060 5.29 31.63 1995 16 473 11 157 2.02 67.73 5 316 5.06 32.27 1996 16 501 11 059 -0.88 67.02 5 442 2.37 32.98 GENERAL TOTAL 1997 16 830 11 315 2.31 67.23 5 515 1.34 32.77 1998 17 049 11 458 1.26 67.21 5 591 1.38 32.79 1999 17 310 11 534 0.66 66.63 5 776 3.31 33.37 2000 17 397 11 562 0.24 66.46 5 835 1.02 33.54 2001 17 591 11 654 0.80 66.25 5 937 1.75 33.75 2002 18 079 11 978 2.78 66.25 6 101 2.76 33.75 2003 17 961 11 901 -0.64 66.26 6 060 -0.67 33.74 (1) Annual increase rate (2) Percentage with respect to overall manpower Other Members include Financial Institutions, Offshore Banks (NAIB), Business Banks (BAT) and Collection Companies.
The Banking Population in 2003 Annual Report 2003 183 Tunisia’s Professional Association for Banks and Financial Institutions Website : www.apbt.org.tn
NETWORK OF BRANCHES-AGENCIES AND OFFICES OF BANKS AS AT 31 DECEMBER 2003
TABLE IX
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 BNA 72 81 93 117 107 113 116 125 131 137 138 138 140 139 141 140 158 142 143 144 STB 73 74 79 102 116 125 126 132 131 135 132 132 131 133 133 131 133 131 132 133 BS 51 56 56 59 62 64 66 72 75 78 79 81 79 83 86 86 86 89 90 91 BIAT 25 36 44 48 56 58 62 65 73 78 79 78 78 78 78 85 85 95 99 100 BT 45 47 49 49 51 59 63 71 71 73 73 73 75 76 76 75 76 75 79 79 UIB 51 55 47 46 58 59 60 63 66 72 70 77 79 78 86 85 88 94 94 93 A.BANK 16 19 32 31 42 54 54 57 58 63 67 68 70 70 72 73 77 75 77 80 BH - - 21 21 27 29 29 34 36 35 46 50 59 61 68 73 73 77 74 78 UBCI 21 21 23 23 24 27 28 29 33 34 36 37 37 37 37 38 39 42 46 47 ATB 7 7 9 11 11 14 17 19 20 26 26 29 30 29 31 32 32 33 35 36 BFT 2 3 3 3 4 4 6 6 6 6 6 6 6 6 6 7 7 7 7 7 ABC ------3 4 4 C.BANK ------1 1 1 1 1 2 2 2 2 2 2 2 1 BTS ------1 1 1 1 1 1 NAIB ------2 2 2 TOTAL 363 399 456 510 558 606 627 674 701 738 753 770 786 792 817 828 857 868 885 896 * * 797 agencies - 20 Offices and 79 branches.
184 Annual Report 2003 The Banking Population in 2003